Other OTC Pharmaceuticals (Pharmacies) - Switzerland

Switzerland

Highlights

Revenue in the Other OTC Pharmaceuticals market is projected to reach US$547.80m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.12%, resulting in a market volume of US$579.10m by 2029.
In global comparison, most revenue will be generated United States (US$4.98bn in 2024).
In relation to total population figures, per person revenues of US$61.89 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Other OTC Pharmaceuticals (Pharmacies) market in Switzerland is witnessing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trend. Customer preferences in the Swiss market are driving the growth of the Other OTC Pharmaceuticals (Pharmacies) market. Swiss consumers have a strong preference for self-care and are increasingly seeking non-prescription remedies for minor ailments. This shift in consumer behavior is fueling the demand for over-the-counter pharmaceuticals, as consumers are looking for convenient and accessible solutions for their healthcare needs. Trends in the market also play a crucial role in the development of the Other OTC Pharmaceuticals (Pharmacies) market in Switzerland. One major trend is the increasing availability and variety of OTC products in pharmacies. Pharmacies are expanding their product offerings to cater to the growing demand for OTC pharmaceuticals. This trend is driven by both consumer demand and the efforts of pharmacies to diversify their revenue streams. Another trend in the market is the rising popularity of natural and herbal remedies. Swiss consumers are increasingly turning to natural and alternative therapies for their healthcare needs. This trend is reflected in the growing availability of natural and herbal OTC products in pharmacies. Consumers are seeking products that are perceived as more natural and have fewer side effects, which is driving the demand for these types of products. Local special circumstances also contribute to the development of the Other OTC Pharmaceuticals (Pharmacies) market in Switzerland. The country has a well-established healthcare system, with a strong emphasis on prevention and self-care. The Swiss government encourages self-care and self-medication as a way to reduce healthcare costs and promote individual responsibility for health. This supportive environment for OTC pharmaceuticals creates favorable conditions for the market's growth. Underlying macroeconomic factors are also playing a role in the development of the Other OTC Pharmaceuticals (Pharmacies) market in Switzerland. The country has a high standard of living and a strong economy, which allows consumers to afford OTC pharmaceuticals. Additionally, Switzerland has a rapidly aging population, which is driving the demand for healthcare products and services, including OTC pharmaceuticals. In conclusion, the Other OTC Pharmaceuticals (Pharmacies) market in Switzerland is experiencing growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The increasing demand for self-care, the availability of a wide range of OTC products, the popularity of natural remedies, the supportive healthcare system, and the favorable economic conditions all contribute to the positive development of the market.

Data coverage:

The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.