Prescription Drugs - Switzerland

Switzerland

Highlights

In Switzerland, the Prescription Drugs market is forecasted to achieve a revenue of US$7.13bn in 2024.
It is expected that this revenue will experience an annual growth rate of 3.09% from 2024 to 2029, resulting in a market volume of US$8.30bn by 2029.
When compared globally, United States is projected to generate the highest revenue in the Prescription Drugs market, amounting to US$358.90bn in 2024.
Taking into account the total population of Switzerland, the per person revenue in 2024 is estimated to be US$805.60.
Switzerland's pharmaceutical market thrives on its reputation for high-quality, innovative prescription drugs, attracting global pharmaceutical companies to establish a strong presence in the country.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Prescription Drugs (Pharmacies) market in Switzerland has seen significant growth in recent years, driven by a combination of customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Swiss customers have a strong preference for high-quality healthcare services, including prescription drugs. They value accessibility, convenience, and personalized care when it comes to purchasing medications. As a result, pharmacies in Switzerland have adapted to meet these preferences by offering a wide range of prescription drugs, professional advice from pharmacists, and efficient delivery services.

Trends in the market: One of the key trends in the Prescription Drugs (Pharmacies) market in Switzerland is the increasing demand for online pharmacies. Swiss consumers are increasingly turning to online platforms to purchase their prescription medications, due to the convenience and cost savings offered. Online pharmacies provide a wider selection of medications, competitive prices, and doorstep delivery, which appeals to busy individuals and those living in remote areas. Another trend in the market is the growing focus on preventive healthcare. Swiss consumers are becoming more health-conscious and are actively seeking ways to prevent health issues before they arise. This has led to an increased demand for over-the-counter medications, vitamins, and supplements. Pharmacies in Switzerland have responded to this trend by expanding their product offerings to include a range of preventive healthcare products.

Local special circumstances: Switzerland has a well-developed healthcare system, with a high level of trust in pharmacies and pharmacists. Pharmacies are seen as an important part of the healthcare ecosystem, providing not only medications but also advice and guidance on health-related matters. This trust and reliance on pharmacies have contributed to the growth of the Prescription Drugs (Pharmacies) market in Switzerland. Additionally, Switzerland has a high level of disposable income, which allows consumers to afford prescription medications and other healthcare products. The country also has a rapidly aging population, which has increased the demand for prescription drugs and healthcare services.

Underlying macroeconomic factors: The strong economy in Switzerland has played a significant role in the growth of the Prescription Drugs (Pharmacies) market. The country has a high GDP per capita and a stable healthcare system, which provides a favorable environment for the pharmaceutical industry to thrive. Additionally, Switzerland has a strong pharmaceutical sector, with several multinational pharmaceutical companies headquartered in the country. This has led to a robust supply chain and availability of a wide range of prescription drugs in the market. In conclusion, the Prescription Drugs (Pharmacies) market in Switzerland is experiencing growth due to customer preferences for high-quality healthcare services, trends such as the rise of online pharmacies and the focus on preventive healthcare, local special circumstances including trust in pharmacies and a high level of disposable income, and underlying macroeconomic factors such as a strong economy and a well-developed pharmaceutical sector.

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.