San Francisco, 20 March 2019: The Report U.S.Pharmacy Benefit Management (PBM) Market Analysis Report By Business Model
(Standalone, Health Insurance Providers, Retail Pharmacy), By End Use
(Commercial, Federal), And Segment Forecasts, 2019 - 2026
The U.S.
pharmacy benefits management market size
is projected to reach USD 744.6 billion by 2026, according to a new report by
Grand View Research, Inc., exhibiting a CAGR of 9.2% during the forecast
period. Increasing vertical integration of key market players, rising
prevalence of chronic disease, and shrinking FDA generic-approval backlog are
some of the primary growth stimulants for the market.
Vertical integration of pharmacy benefits
management (PBM) organizations with health insurance companies are poised to
result in increased control of PBMs over distribution systems. This will lead
to rise in rebates, ultimately increasing the cost of drug list prices.
Moreover, it will result in a monopoly of certain market player, concentrating
sales and revenue generation.
The business of insuring and administering
employee benefit programs in the country, especially, health care programs, is
heavily regulated by federal and state laws and administrative agencies, such
as the Department of Health and Human Services (HHS), State Departments of
Insurance, Centers for Medicare & Medicaid Services (CMS), Internal Revenue
Services, and Departments of Labor.
All PBM businesses in the U.S. must include
home delivery and specialty pharmacies licensed as pharmacies in the states of
establishment. Several states in the country regulate the scope of prescription
(Rx) drug coverage and delivery channels to receive drugs for managed care
organizations (MCOs), insurers, and Medicaid care plans. Certain home delivery
and specialty pharmacies must be registered with the U.S. Drug Enforcement
Administration (DEA) and individual state controlled substance authorities.
Access Research Report of U.S. Pharmacy Benefit Management
Market @ https://www.grandviewresearch.com/industry-analysis/us-pharmacy-benefit-management-pbm-market
Further key findings from the study suggest:
· Based on business model, the market has
been segmented into standalone PBM, health insurance providers, and retail
pharmacy. Of these, PBMs associated with health insurers are likely to witness
the fastest growth over the forecast period
· Rise in mergers and partnerships between
market players is expected to result in an increased demand for PBM systems
· OptumRx and Express Scripts (merged with
Cigna in December 2018) are among the key players merged or acquired by large
health insurance providers
· Based on end use, the market has been
divided into commercial and federal. Commercial PBM systems dominated the
market and are estimated to maintain their dominance through 2026 owing to a
large number of covered patients
· CVS Health; Aetna; Express Scripts; Cigna;
OptumRx, Inc.; Walgreens Booth Alliance; MedImpact Healthcare Systems, Inc.;
Anthem; and Rite Aid are some of the key players in the market.
Browse more reports of this category by Grand View
Research at: https://www.grandviewresearch.com/industry/healthcare-it
Grand View Research has
segmented the U.S. pharmacy benefits management (PBM) market based on business
model and end use:
Business Model Outlook (Revenue, USD
Billion, 2015 - 2026)
·
Standalone PBMs
·
Health Insurance Providers
·
Retail Pharmacy
End Use Outlook (Revenue, USD Billion, 2015
- 2026)
·
Commercial
·
Federal
Access Press Release of
U.S. Pharmacy Benefit Management Market@ https://www.grandviewresearch.com/press-release/us-pharmacy-benefit-management-pbm-market-analysis
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market intelligence
studies ensuring relevant and fact-based research across a range of industries,
from technology to chemicals, materials and healthcare.
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