Pharmacy Benefit Manager (PBM) Market in the US to grow at a CAGR of 7.16% during 2014 - 2019, Finds New Report

Report forecast the PBM market in the US to grow at a CAGR of 7.16% during 2014-2019.

PBMs are responsible for processing prescriptions for corporations or insurance companies. Earlier, their major role was administration and negotiation with drug pharmacies and manufacturers to get rebates on drug prices. Now they have evolved into entities taking over the drug benefit portion of health plans in the US. Recent healthcare reforms in the US have contributed significantly to increase their area of expertise. Increase in costs of drugs and other healthcare services has made PBM's services more desirable. PBMs act as an intermediary between the payer and other entities in a healthcare system. They generate revenue through service fees they charge from large customer contracts for activities such as operating mail-order pharmacies, processing prescriptions, and negotiating with drug manufacturers and pharmacies.

The report covers the current scenario and the growth prospects of the PBM market in the US for the period of 2015-2019. To calculate the market size, the report considers revenue generated by PBMs by offering pharmacy benefit services to end-users in the healthcare market in the US.

Pharmacy Benefit Manager (PBM) Market in the US 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the PBM market landscape in the US and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.

Key players in the Pharmacy Benefit Manager Market in US: Catamaran, CVS Health, Express Scripts, OptumRX and Prime Therapeutics

Other Prominent Vendors in the market are: Aetna, Argus Health, Centene, Cigna, Humana, MedImpact, and Rite Aid.

According to the report, the availability of healthcare provisions and advances in technology in the healthcare industry are leading to a reduction in the mortality rate in the US. According to the US population census, more than 40 million Americans were aged above 65 years in 2014. This population requires treatment for chronic and generic diseases, and the cost of treatment tends to increase with age. For instance, the cost of treatment for people suffering from diseases like Alzheimer's (mostly seen in people aged above 65 years) is high. Despite the high insurance costs, people in this age group tend to buy more pharmacy benefit plans. This will help the market grow during the forecast period.

Market driver

• Increase in healthcare expenditure
• For a full, detailed list, view our report

Market challenge

• Criticisms of PBMs
• For a full, detailed list, view our report

Market trend

• Shift toward multi-tier prescription drug plans by employers
• For a full, detailed list, view our report

Key questions answered in this report

• What will the market size be in 2019 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?

Spanning over 69 pages, “Pharmacy Benefit Manager (PBM) Market in the US 2015 - 2019” report covers Executive summary, Scope of the report, Market research methodology, Introduction, US: Economic profile, Global pharmaceuticals market, PBM: An overview, PBM market in US, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Other prominent vendors, Appendix.

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