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Pharmacy Benefit Management in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Pharmacy Benefit Management Market Research Report | Life Sciences | Healthcare Services | Jul 2015

Picture of health: Total health expenditure will increase, fostering industry revenue growth

IBISWorld’s Pharmacy Benefit Management market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Market Share of Companies
Catamaran Catamaran market share
CVS Caremark CVS Caremark market share
Express Scripts Express Scripts market share
UnitedHealth Group Inc. UnitedHealth Group Inc. market share
Industry Statistics & Market Size
Revenue
$365bn
Annual Growth 10-15
19.9%
Annual Growth 15-20
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Profit
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Employment
34,365
Businesses
56
Industry Analysis & Industry Trends

Rising drug costs, higher consumer spending on healthcare and increasing prescription drug use drove up revenue for the Pharmacy Benefit Management industry over the five years to 2015. Rising drug costs caused health plan sponsors to increasingly turn to PBMs for cost management services. In turn, this trend drove industry operators to consolidate to better leverage larger retail pharmacies, customer networks and drug use data to negotiate better cost savings with drug manufacturers. Growth prospects for PBMs are strong; IBISWorld projects that industry revenue will expand steadily over the five years to 2020.... purchase to read more

Industry Report - Industry Products Chapter

Retail pharmacy services

Accounting for the majority of revenue, retail pharmacy services have remained a steady source of income for industry operators. A considerably large portion of retail pharmacy services is mail order, which includes the processing, fulfillment and delivery through the mail of brand name and generic pharmaceuticals to patients who submit prescriptions or refill requests to an industry client. Rather than go to the pharmacy every month, patients can use home delivery services for drugs by submitting orders via mail, telephone, fax or online. The retail pharmacy segment also includes face-to-face retail pharmacy services, which are performed through a company's retail pharmacy network (i.e... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Pharmacy Benefit Management Industry?

This industry includes firms that provide pharmacy benefit management services. Industry firms are third-party administrators of government and employer-sponsored prescription drug programs. They are primarily responsible for processing and paying prescription drug claims.

Industry Products
Retail pharmacy servicesSpecialty pharmacy servicesBenefit plan design and consultationDrug formulary managementOther services
 
Industry Activities
Processing and paying prescription drug claimsManaging prescription drug plan costsPrescription drug plan design and administration


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