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US Pharmacy Benefit Management (PBM) Industry Report: 2011 Edition
Koncept Analytics, Nov 2011, Pages: 40
PBM companies aim at merging retail pharmacy claims processing, formulary management and home delivery pharmacy services in order to develop and create an integrated product offering for payors. PBM is a high volume and low margin business.
The US prescription volume and expenditure has been increasing over the past years. The number of drugs coming into the US market is expected to speed up in future. More effective strategies are being developed by companies in response to pressures being put on health benefit providers with the intention to keep the medications affordable.
Demand of prescription drugs is expected to increase with the increase in average age of the American population. Medical beneficiaries have increased over the past decade and are expected to increase even further with the increase in aging population in the US. Over the past decade, the US health expenditure as percentage of Gross Domestic Product has also been increasing, thereby creating growth opportunities for PBM players. Life expectancy in the US has reached a new height due to the fact that the number of people with chronic condition has also risen.
Key Features:
The report analyzes the US Pharmacy Benefit Management Industry. Rising drug prices, increasing drug utilization and prevalence of chronic diseases are some of the drivers being discussed in the report. Mergers and acquisitions in the PBM industry in the past years have also been discussed.
The competition prevailing in the industry has been analyzed with market share of companies on the basis of source of dispensing. Trends in the industry have also been included focusing on key contract changes, contracts for renewals of the major players and market share of PBM companies adjusted on the basis of acquisitions and contract shifts. This report also profiles the major players in the PBM industry.
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