Market Insights Health Pharmacies OTC Products

Pharmacy Usual Items - Switzerland

Switzerland

Revenue in the Pharmacy Usual Items market is projected to reach US$0.82bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.63%, resulting in a market volume of US$0.98bn by 2029.
In global comparison, most revenue will be generated in China (US$48,050.00m in 2024).
In relation to total population figures, per person revenues of US$92.11 are generated in 2024.

Key regions: Japan, France, China, Australia, Europe

Market

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Currency

Analyst Opinion

The Pharmacy Usual Items market in Switzerland has been experiencing steady growth in recent years.

Customer preferences: Swiss customers have a strong preference for high-quality and reliable pharmacy products. They value products that are backed by scientific research and have a track record of effectiveness. Swiss consumers are also becoming increasingly conscious of their health and are willing to invest in products that promote wellness and prevent illness. As a result, there is a growing demand for natural and organic pharmacy items in Switzerland.

Trends in the market: One of the key trends in the Swiss Pharmacy Usual Items market is the rising popularity of natural and organic products. Consumers are becoming more aware of the potential side effects of synthetic ingredients and are seeking out alternatives that are perceived to be safer and more environmentally friendly. This trend is reflected in the increasing number of natural and organic pharmacy items available in Swiss stores. Another trend in the market is the growing demand for personalized pharmacy items. Swiss consumers are looking for products that are tailored to their specific needs and preferences. This has led to the development of personalized skincare and dietary supplements that address individual concerns such as aging, skin sensitivity, and dietary restrictions.

Local special circumstances: Switzerland has a well-developed healthcare system and strict regulations governing the sale of pharmacy items. Only licensed pharmacies are allowed to sell prescription drugs, while non-prescription items can be sold in a variety of retail outlets including pharmacies, supermarkets, and online stores. This regulatory framework ensures that consumers have access to safe and effective pharmacy products.

Underlying macroeconomic factors: The Swiss economy is characterized by high levels of disposable income and a strong focus on quality and innovation. This creates a favorable environment for the Pharmacy Usual Items market, as consumers are willing to spend more on premium products that meet their needs and expectations. Additionally, Switzerland has a high life expectancy and an aging population, which drives demand for healthcare and wellness products. In conclusion, the Pharmacy Usual Items market in Switzerland is experiencing growth due to customer preferences for high-quality and reliable products, the rising popularity of natural and organic items, the demand for personalized products, and the country's favorable macroeconomic factors. The market is expected to continue to expand as Swiss consumers prioritize their health and well-being.

Methodology

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.