Market Insights Health OTC Pharmaceuticals

Cold & Cough Remedies - Switzerland

Switzerland

In Switzerland, the revenue generated in the Cold & Cough Remedies market market in 2024 amounts to US$299.60m.
It is projected that the market will experience an annual growth rate of 4.78% (CAGR 2024-2029).
When compared to other countries globally, the in the United States leads with a revenue of US$11,190.00m in 2024.
In terms of per person revenues, in Switzerland, each individual contributes US$33.84 in 2024.
In Switzerland, the market for cold & cough remedies in the OTC Pharmaceuticals sector is driven by a strong demand for natural and homeopathic remedies.

Key regions: United States, Japan, Australia, United Kingdom, China

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Analyst Opinion

The Cold & Cough Remedies market in Switzerland has been experiencing significant growth in recent years.

Customer preferences: Swiss consumers have shown a strong preference for natural and herbal remedies when it comes to treating cold and cough symptoms. This is driven by a growing awareness and demand for products that are perceived as being healthier and more sustainable. As a result, there has been a shift towards herbal and homeopathic remedies, as well as natural ingredients such as honey and ginger. Consumers are also increasingly looking for products that are free from artificial additives and preservatives.

Trends in the market: One of the key trends in the Cold & Cough Remedies market in Switzerland is the increasing demand for over-the-counter (OTC) medications. This can be attributed to several factors, including the convenience and accessibility of OTC products, as well as the rising cost of healthcare. Consumers are opting for self-medication options that allow them to treat their symptoms without the need for a doctor's prescription. This trend is expected to continue in the coming years, driving further growth in the market.Another trend that is shaping the market is the growing popularity of online shopping. Swiss consumers are increasingly turning to e-commerce platforms to purchase their Cold & Cough Remedies. This can be attributed to the convenience and wide product selection offered by online retailers. The COVID-19 pandemic has further accelerated this trend, as consumers have been encouraged to stay at home and avoid crowded places. Online shopping provides a safe and convenient alternative to traditional brick-and-mortar stores.

Local special circumstances: Switzerland has a highly developed healthcare system, which includes a strong emphasis on preventive medicine and self-care. This has contributed to the growth of the Cold & Cough Remedies market, as consumers are encouraged to take an active role in managing their health. The Swiss healthcare system also provides easy access to healthcare professionals and pharmacies, which further supports the demand for Cold & Cough Remedies.

Underlying macroeconomic factors: The Swiss economy has been relatively stable in recent years, with low unemployment rates and high disposable incomes. This has contributed to the growth of the Cold & Cough Remedies market, as consumers have the financial means to purchase these products. Additionally, Switzerland has a high standard of living and a strong focus on health and wellness, which further drives demand for Cold & Cough Remedies.In conclusion, the Cold & Cough Remedies market in Switzerland is experiencing significant growth, driven by customer preferences for natural and herbal remedies, the increasing demand for OTC medications, the popularity of online shopping, the emphasis on self-care in the healthcare system, and the stable macroeconomic conditions.

Methodology

Data coverage:

Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. 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 particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.