U.S. Pharmacy Benefit Management (PBM) Industry Report Shows a Growing Market for PBM

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MarketResearchReports.Biz has recently added a research document to their roster titled “US Pharmacy Benefit Management (PBM) Industry Report 2014 Edition”.

The driving factors in the pharmacy benefit management market include the growing geriatric population in the U.S., growing prevalence of diseases that are infectious or chronic in nature, and increasing rate of life expectancy among all social classes.

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The report also explains the growing levels of expenditure in the healthcare industry and its impact on pharmaceutical sales in the U.S. This has created two key trends in the pharmacy benefit management industry today: increasing enrollments in Medicare and a growing acceptance of specialty drugs.

Relatively new additions to the realm of pharmacy benefit management include improved market approaches that offer not only cost control and enhanced processing capabilities, but also a stable plan for providing reimbursement for medical claims.

There has been substantial growth in volume and sales in the U.S. prescription drugs market. The report states that the market can expect to witness the same exceptional rate of growth over the coming years.

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The growing market demand ensures that pharmacy benefit management strategies can involve enhanced mail service pharmacies, retail price discounts, and pharmaceutical manufacturer rebates. This could give weight to the plans made by sponsors and individuals alike aiming to produce and deliver drugs at lower prices for the consumer as well as the manufacturer.

The U.S. includes some independent pharmacy benefit managements. There also exist a few that belong to managed care organizations and retail pharmacies. The pharmacy benefit management industry currently involves largely consolidated players that have grown through sequential acquisitions and mergers.

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The opening section of the report includes an overview of pharmacy benefit management in the U.S., i.e., the history of pharmacy benefit management, and brief explanations of the retail and mail dispensing process, and flow of funds.

The segments of discussion within the U.S. pharmacy benefit management market include the Ex market, which is explained in terms of market volume, rate of expansion, segmentation, channels of distribution, and a topic that notes the differences between generic and branded drugs’ growth. The other two areas of discussion include pharmaceutical sales and specialty drugs.

The key companies mentioned in the report for pharmacy benefit management in the U.S. include Express Script, Catamaran, and CVS Health. Each player is discussed in terms of business overview, financial overview, business strategies, and program introductions. Other areas of explanation include acquisition-related developments and the expansion of healthcare reforms.

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