In contrast to other answers, I would prefer to inline the "switch" in the render function. It makes it more clear what components can be rendered at that position. You can implement a switch-like expression by using a plain old javascript object:

render () {
  return (
    <div>
      <div>
        {/* removed for brevity */}
      </div>
      {
        {
          'foo': <Foo />,
          'bar': <Bar />
        }[param]
      }
      <div>
        {/* removed for brevity */}
      </div>
    </div>
  )
}