The key factors driving growth of PBM industry include accelerating US aging population, prevalence of chronic disease, increased life expectancy, healthcare reforms and increasing healthcare expenditure.
Dallas, Texas (PRWEB) July 25, 2014
The rising pharmaceutical sale across the US is one of the key factors leading to the growth of the US PBM industry. A slow but steady increase has been observed in the volume and value of pharmaceutical sales in the US over the past few years. The increase in the pharmaceutical sales can be attributed to rise in the prescription volume over the past few years.
As per the report “The US Pharmacy Benefit Management (PBM): 2013 Edition” the demand for the pharmacy benefit managers in the US is encouraged by accelerating US population, launch of healthcare reforms, rising Medicare enrollments, and increasing prevalence of chronic and infectious diseases. The US PBM industry has recently witnessed a number of Medicaid pharmacy savings programs along with increased penetration of unbranded generic drug prescription.
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A pharmacy benefit manager (PBM) is defined as a third party administrator of prescription drug programs in the US. A pharmacy benefit manager is a company which is responsible for handling and administrating the drug benefit program. Health insurers, self-insured employers, unions and government entities are included in PBM’s clients. PBMs are engaged in claims processing, and offer broad spectrum of clinical and administrative services designed to reduce the overall cost of providing prescription drug coverage. They obtain money via three entities namely, drug manufacturer, plan sponsors, and pharmacies. PBM industry has been undergoing a period of heavy consolidation with a selected group of leading PBMs.
This report presents an exhaustive study of the US PBM Market on the basis of value and volume. Analysis of the US PBM industry through retail and institutional channels has also been incorporated in the report. It also encompasses a number of factors driving the growth of the US PBM industry coupled with recent trends of the industry. The company profile section of the report covers detailed description of the players operating in the aforementioned industry. The report also includes in-depth analysis of intense competition among the major PBM players on a number of parameters.
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