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The latest market report published by Credence Research, Inc. “Pharmacy Benefit Management Market - Growth, Future Prospects, Competitive Analysis, 2018 - 2026,” the global pharmacy benefit management market was valued at US$ 405.4 Bn in 2017 and expected to grow at compound annual growth rate (CAGR) of 5.4% during the forecast period from 2018 to 2026.Browse full report https://www.credenceresearch.com/report/pharmacy-benefit-management-market
Market Insights
The global pharmacy benefit management market is projected to grow at a steady rate during the forecast period. The pharmacy benefit management reduce cost of prescription drugs and increase safety and convenience for consumers, government, unions, pharmaceutical companies and pharmacies. PBMs are playing a significant role in the establishment of swift access of pharmaceutical products to patients at a lower rate, acting as the major driver for the growth of the market. Mergers and acquisition in the market are leading to vertical integration driving the market. Partnerships between PBMs and health insurance companies have dramatically changed the dynamics of the market. In 2018, Cigna Corp acquired Express Scripts Holdings at US$ 67 Bn to become the largest pharmacy benefit management company. It was followed by CVS Health acquiring Aetna, Inc. The major reason for alliance with insurance companies includes personalized and affordable healthcare plans for the patients and improved co-ordination with healthcare professionals.
In terms of geography, North America accounted for the largest market for pharmacy benefit management market owing to the majority of market players domiciled in the region. Highly organized insurance sector and healthcare policies in the region makes the market most lucrative. Moreover, presence of major pharmaceutical companies in the North America and major dependency of these companies on PBMs for better access in the market will drive the demand for pharmacy benefit management services. Emerging economies will experience fastest growth rate during the forecast period owing to developing healthcare infrastructure. The pharmacy benefit management companies have huge opportunities in these market owing to high target population, unorganized price and insurance structure making it highly attractive market to invest. The key players currently engaged in pharmacy benefit management market include CVS Health, Express Scripts Holding Company, Cigna, Anthem, Optumrx, Inc., Walgreens Boots Alliance, Inc., and Rite Aid Corp. among others.
Browse full report https://www.credenceresearch.com/report/pharmacy-benefit-management-market
Key Market Movements:
Mergers and acquisition in the market to drive the market during the forecast period
High opportunity in emerging regions owing to high target population and lower competition
Full report @ https://www.credenceresearch.com/sample-request/59632
ToC:
Chapter 1. Preface
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Chapter 2. Executive Summary
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Chapter 3. Pharmacy Benefit Management: Market Dynamics and Outlook
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Chapter 4. Global Pharmacy Benefit Management Market, by Services, 2016-2026 (US$ Bn)
4.1. Overview
4.2. Specialty Pharmacy Services
4.3. Benefit Plan Design and Consultation
4.4. Drug Formulary Management
4.5. Other Services
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Chapter 5. Global Pharmacy Benefit Management Market, by Business Model, 2016-2026 (US$ Bn)
5.1. Government Health Programs
5.2. Employer-sponsored Programs
5.3. Health Insurance Management
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Chapter 6. Global Pharmacy benefit management Market, by Geography, 2016 – 2026 (US$ Bn)
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Chapter 7. Company Profiles
7.1. CVS Health
7.1.1. Business Description
7.1.2. Financial Information (Subject to Data Availability)
7.1.3. Product Portfolio
7.1.4. News Coverage
7.2. Express Scripts Holding Company
7.3. Cigna Corp.
7.4. Optumrx, Inc.
7.5. Anthem
7.6. Walgreens Boots Alliance, Inc.
7.7. Medimpact Healthcare Systems, Inc.
7.8. Rite Aid Corp
7.9. DST Systems, Inc.
7.10. Prime Therapeutics LLC
Browse full report https://www.credenceresearch.com/report/pharmacy-benefit-management-market
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Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we've manufactured a firm extraordinarily prepared to this task.
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Release ID: 494174
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