Global Pharmacy Benefits

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Global Pharmacy Benefits Management Market Size, Share, Growth, Industry Trends and Forecast 2020-2030


The global pharmacy benefits management services market is accounted approximate USD 469.4 billion in 2020 and it is expected grow with a CAGR of 5% during forecast period.  Pharmacy benefits management services are provided by the third-party administrator. They act as a link between pharmacists, insurance companies, and insurance claimers or drug manufacturing companies. Their work involves various tasks which include managing the prescription, reduce the drug price, and planning of better health plan for the customers with benefits such as rebates and discount offerings. Medicines offered by these third-party administrators are of low affordable price as compared to the medicines sold by retail pharmacists. In addition to this, they also release the list of drug prescriptions that are covered in their benefit plans. These firms are flexible and diverse ranging from small size to considerably large size. Some of the responsibilities of the pharmacy benefits management firms includes operation of mail orders so that the prescriptions will be delivered to the patient’s door, ensure the patient compliances, medicine distribution management among the network of pharmacies, negotiation of rebates in order to get affordable offers on medicines, process claim from the pharmacies and patients, and management of the formularies so that individual will know the details of medication covered in their health plans.

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Market Dynamics and Factors:

The growing demand of insurance services and increasing numbers of individuals availing for insurance is one of the major drivers of the pharmacy benefits management services market. According to the World Health Organisation (WHO), 60% of the global burden of diseases will be accounted for by chronic diseases in 2020. Rising occurrences of health issues such as chronic diseases amongst the majority of populace, due to a growing unhealthy lifestyle in the urban areas is boosting the demand of the market. Moreover, health-conscious individuals are opting to make use of this service which is one of the supporting factors for the market. In addition to this, the well-established healthcare sector in developed countries and rapidly growing healthcare sectors in emerging countries is further propelling the growth of the market.  However, the unawareness of the benefits of these services amongst the populace is the restraining factor of the market. Hence, promoting these services in order to increase awareness is a challenge for these management firms. The growing need of the healthcare sector will create more opportunities in the pharmacy benefits management services market.

Market Segmentation : 

  • Global Pharmacy Benefits Management Market – By Services

    • Specialty Pharmacy Services

    • Drug Formulary Management

    • Benefit Plan Design & Consultation

    • Others

  • Global Pharmacy Benefits Management Market – By End-User

    • Pharmacy Benefit Management Organization

    • Mail Order Pharmacies

    • Retail Pharmacies

    • Inpatient Pharmacies

    • Outpatient Pharmacies

  • Global Pharmacy Benefits Management Market – By Geography

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • U.K.

      • France

      • Germany

      • Italy

      • Rest of Europe

    • Asia-Pacific

      • Japan

      • China

      • India

      • Australia

      • Rest of Asia Pacific

    • ROW

      • Latin America

      • Middle East

      • Africa

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Geographic Analysis:

North America has dominated the global pharmacy benefits management services market and expected to continue its supremacy in the years to come. With the availability of the advanced healthcare technology combined with government support, efficient infrastructure, and well-established healthcare sector. The market is also growing rapidly in Asia Pacific region with growth in population density combined with the growing occurrence of chronic diseases in emerging countries such as India and china, which caters to the growth of the market in the region. Global pharmacy benefits management services market in Europe is also expected to witness significant growth with the growing healthcare sector and growing insurance sector.

Competitive Scenario:

Key players in the global pharmacy benefits management services market are CVS Health, UnitedHealth Group, Rite Aid Corp., SS&C Technologies Inc., Change Healthcare, Anthem Inc., CaptureRx, and ProCare Rx.

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How will this Market Intelligence Report Benefit You?

  1. The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.

  2. Exclusive insight into the key trends affecting the Global Pharmacy Benefits Management industry, although key threats, opportunities and disruptive technologies that could shape the Global Pharmacy Benefits Management Market supply and demand.

  3. The report tracks the leading market players that will shape and impact the Global Pharmacy Benefits Management Market most.

  4. The data analysis present in the Global Pharmacy Benefits Management Market report is based on the combination of both primary and secondary resources.

  5. The report helps you to understand the real effects of key market drivers or retainers on Global Pharmacy Benefits Management Market business.

The 2021 Annual Global Pharmacy Benefits Management Market offers:

  • 100+ charts exploring and analysing the Global Pharmacy Benefits Management Market from critical angles including retail forecasts, consumer demand, production and more

  • 15+ profiles of top producing states, with highlights of market conditions and retail trends

  • Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand

  • Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Pharmacy Benefits Management Market type

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Decision Foresight is a market research organization known for its reliable and genuine content, market estimation and the best analysis which is designed to deliver state-of-the-art quality syndicate reports to our customers. Apart from syndicate reports, you will find the best market insights, strategies that will help in taking better business decisions on subjects that may require you to develop and grow your business-like health, science, technology and many more. At Decision Foresight, we truly believe in disseminating the right piece of knowledge to a large section of the audience and cover the in-depth insights of market leaders across various verticals and horizontals.

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