Analgesics had been in decline prior to the onset of COVID-19 in Switzerland. Consumers have become cautious about the potential adverse side effects of analgesics if used regularly over a long period of time, as warned by the medical establishment and the media.
With consumers stockpiling a wide range of products in response to the panic created by COVID-19, the federal government stepped in in March 2020 to limit the sale of some analgesics. This action was taken due to concerns among the Pharmacists Association that there may be supply shortages, which represent a threat to consumer health.
When purchasing OTC analgesics, consumers tend to opt for the leading brands of multinationals and large European companies, with this behaviour being compounded by the uncertainty created by COVID-19. The leading players benefit from the trust they have built up over the decades, with strong investment in marketing and recommendations from pharmacists all helping to support this.
Despite the gains seen in 2020 it is worth noting that analgesics is expected to return to the sales patterns seen pre-COVID-19 as from 2021. It is likely that consumers will become even more focused on preventative health over cures and this is likely to limit the potential for growth.
Swiss consumers lead very busy lives, balancing long working hours with sport, exercise, social and family activities. With wages and jobs under pressure due to the fallout from COVID-19 this is only likely to intensify.
The high cost of production and research and development makes it hard for smaller domestic players to gain a foothold in analgesics in Switzerland. Even if they are able to bring their products to market they then face intense competition from the well-established and trusted brands of the leading multinational players.
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Understand the latest market trends and future growth opportunities for the Analgesics industry in Switzerland with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Analgesics research and analysis database.
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