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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 | Sep 2014

Healthy growth: Healthcare legislation will increase customer base and industry revenue

IBISWorld’s Pharmacy Benefit Management market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

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
$263bn
Annual Growth 09-14
5.3%
Annual Growth 14-19
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Profit
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Employment
41,292
Businesses
73
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 2014. 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 2019.... purchase to read more

Industry Report - Industry Locations Chapter

In the Pharmacy Benefit Management industry, a widespread geographic reach is essential for the proper distribution of prescription drugs to retail pharmacies and other clients. In becoming a primary healthcare source for many healthcare organizations, industry establishments are more capable of negotiating with large insurance and pharmaceutical companies if they are able to present nationwide coverage and accessibility.

Easy access to markets has become a key to success because it allows industry operators to more easily take advantage of economies of scale. The strategic placement of a company's operations can decrease delivery costs, which allows a PBM to not only offer more competitive prices but also improve its profit margins... 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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