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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 | Aug 2013

Prescription strength: Healthcare reform will drive up physician visits, boosting revenue

IBISWorld’s Pharmacy Benefit Management market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

Report Snapshot
Market Share of Companies
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
$233bn
Annual Growth 08-13
1.1%
Annual Growth 13-18
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Profit
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Employment
127,830
Businesses
42
Industry Analysis & Industry Trends

Though it felt the recession's effects, the Pharmacy Benefit Management industry has recovered quickly and is poised to grow on the back of rising insurance coverage and increased physician visits, which will yield a higher number of prescriptions filled. As the median age of the US population continues to rise, more Americans will rely on medications, increasing demand for the industry's services from insurers and employer-sponsored coverage plans. As more patients choose generics over more expensive brand names, however, industry profit margins are expected to make little progress in the coming years.... purchase to read more

Industry Report - Industry Investment Chapter

The Pharmacy Benefit Management industry has a medium level of capital intensity. For every dollar spent on labor, about $0.22 is spent on capital. A fair amount of capital is required to begin operations in the industry. First, capital is needed to acquire a large amount of prescription drugs, which can then be dealt through retail pharmacies and mail-order pharmacies to member clients. Next, capital is needed to run daily operations, including property, plant or equipment needed to conduct business. Wages only account for about 4.5% of industry revenue, but capital is still necessary to support a healthy sales environment. These costs are often referred to as acquisition expenses or capital needed to find new business sales... 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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