The US Pharmacy Benefit Management Market will reach $616.4 billion by 2027. To increase the adoption of electronic prescription and mail-order pharmacy to create lucrative opportunities in the market

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The US Pharmacy Benefit Management Market was valued at USD 446.2 Billion in 2021 and is projected to reach USD 616.4 Billion by 2027.

Chicago, May 16, 2022 (GLOBE NEWSWIRE) — According to Arizton’s latest research report, the U.S. Pharmaceutical Benefits (PBM) market will grow at a CAGR of 5.5% during the period 2022-2027. Electronic prescribing is used in healthcare technology to improve prescribing accuracy, increase patient safety, reduce costs, and enable secure, two-way, real-time electronic connectivity between physicians and pharmacies. ePrescribing provides prescribers with electronic access to medical planning forms, patient eligibility and medication history at the time of care, as well as a secure way to transfer prescriptions securely and electronically. electronically to the pharmacy computer system.

Prescribing brings many benefits to PBM and medical planning. It is possible that in the future there will be opportunities for improvement in substance use, if the PBM or medical plan can provide feedback at the time of prescribing the patient’s medical history with other prescribers.

you.S. Pharmacy benefit management (PBM) Scope of the market report

Report attributes

Details

MARKET SIZE (2027)

$616.4 billion

MARKET SIZE (2021)

$446.2 billion

CAGR (2022-2027)

5.5%

YEAR OF REFERENCE

2021

FORECAST YEAR

2022-2027

MARKET SEGMENTS

Health plan, services and business model

KEY PLAYERS

CVS Health, Cigna, UnitedHealth Group

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Are Growing FDA Approvals for Biologics and Bisosimilar Impact on market growth?

Over the past two decades, biopharmaceuticals have transformed the treatment of many chronic and highly complex diseases such as autoimmune diseases, cancer and diabetes. In addition, biosimilars, which are copycat biologic drugs, are expected to play an important role in the growth of the biopharmaceuticals market, especially in the APAC region. An increase in biosimilar approvals is expected to have a significant impact on the growth of the Disposable bioprocess market. Additionally, PBMs leverage the availability of alternatives to biosimilars and their reference biologics as part of an overall cost reduction strategy in the healthcare system.

Highlights

  • Presence of prominent players in the market, increase in favorable healthcare reforms, increase in e-prescribing and increasing adoption of healthcare plans by US residents are the major factors for the large market share in the country.

  • Specialty pharmacy services is the major contributor to the pharmacy benefit management market in the United States, and it is expected to witness an additional strong growth of $48.24 billion during the forecast period.

  • Commercial health plans are the major contributor to the pharmaceutical benefit management market in the United States, and it is expected to witness a high absolute growth of 34.69% during the forecast period.

  • PBMs are increasingly criticized, claiming they drive up drug prices, making huge gains through pharmacy price differentials, manufacturer rebates and supply chain fees. This is spurred by the opacity of the true cost of drugs for PBMs due to rules of engagement between manufacturers and PBMs.

  • The future of PBMs will be dictated by the implementation of state and national policies in terms of revenue streams and business practices in the pharmaceutical space.

Key offers:

  • Market Size and Forecast by Volume | 2022−2028

  • Market Dynamics – Key Trends, Growth Drivers, Restraints and Investment Opportunities

  • Market Segmentation – A Detailed Analysis by

  • Competitive landscape – 6 key vendors and 11 other vendors

Market segmentation

health plan

  • Commercial Health Plans

  • Health Insurance

  • Medical help

  • Others

Services

  • Specialty pharmacy services

  • Retail pharmacy networks

  • Mail-order pharmacy services

  • Claims processing

  • Form management

  • Drug Utilization Review

  • Price negotiations, discounts and rebates

  • Disease management and compliance initiatives

business model

What are the strategies adopted by players in the US Pharmacy Benefits Market (PBM)?

The competitive landscape of PBM has changed significantly over the past two years, where acquisitions have dominated the market and are mostly occupied by a few giants. There are very few recent entrants that have established themselves in the market. The PBM Market is predicted to witness stiff competition and challenging atmosphere owing to growing consumer pressure, political pressure, legal scrutiny, and forces from new and innovative players. Instead of competing for profits, manufacturers and PBMs could team up to create patient-centric solutions that benefit gamers in terms of growth.

Key Company Profiles

  • SVC Health

  • Cigna

  • UnitedHealth Group

Top Companies to Watch

Other Important Suppliers

  • Abarca Health

  • AscellaHealth

  • BeneCard PBF

  • CaptureRx

  • centene

  • Changing healthcare

  • Citizens Rx

  • EnvisionRxOptions

  • will excel

  • Magellan Rx Management

  • MedalistRx

  • MaxorMore

  • Navitus Health Solutions

  • PerformRx

  • ProCareRx

  • RxAdvance

  • Ritual Aid

  • WellDyneRx

  • Walgreens Boot Alliance

Explore our life sciences profile to learn more about the industry.

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About Arizton:

Arizton Advisory and Intelligence is an innovation and quality-driven company that provides industry-leading research solutions to clients around the world. We excel in providing comprehensive market intelligence reports and advisory and consultancy services.

We offer comprehensive market research reports on industries such as consumer goods and retail technology, automotive and mobility, smart technologies, healthcare and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers and trend forecasts.

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Call: +1-312-235-2040

+1 302 469 0707

CONTACT: Arizton Advisory and Intelligence Call: +1-312-235-2040 +1 302 469 0707


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