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04-Jul-2019

Pharmacy Benefit Management Services Market Showcase Vigorous CAGR 5.8% In Market Forecast Till 2024

Global Pharmacy Benefit Management Services Market is expected to register 5.8% CAGR during the forecast period (2019ndash;2024).

The Global Pharmacy Benefit Management Services Market studies the overall dynamics and trends of the market in terms of various segments and regional outlook for the period of 2019 to 2024. The report offers of historic and future market scenario in terms of market value, share and critical developments taking place in the industry. Market size, forecast, trends of each country and region are studied in the report for the focus period of 2019 to 2024.

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Qualitative assessment tools such as PEST analysis, cost structure analysis and regulatory compliance for pharmaceutical products are offered in the report. The report also comprises Pipeline Analysis which helps understand the comprehensive forecast scenario of the market in terms of value and dynamics. The report analyses the recent drug approval trends and market dynamics such as drivers, restrains, and opportunities, industry trends and future outlook in the Global Pharmacy Benefit Management Services Market.

The report represents key players operating in the market along with its competitive landscape. The competitive landscape includes player positioning analysis, competitive matrix and market share analysis of the key players operating in the industry. The market attractive index highlights the most lucrative regional market to invest in the market.

The market is studied for regions such as North America (U.S., and Canada), Europe (U.K., Germany, France, Spain, and Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America) and Middle East amp; Africa (GCC, South Africa, and Rest of Middle East amp; Africa).

Key Takeaways:

What is the market size in 2018 and the growth rate of the Global Pharmacy Benefit Management Services Market?

What is the market drivers, restrains, opportunities governing the Global Pharmacy Benefit Management Services Market?

Which are the largest and the fastest growing segments in the Global Pharmacy Benefit Management Services Market?

Who are the key players operating in the market and their market position?

What is the pipeline scenario, drug pricing analysis and technological development in the market?

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Global Pharmacy Benefit Management Services Market Report: Information by Service (Retail pharmacy services, Specialty pharmacy services, Benefit plan design and consultation, Others), End User (Healthcare Providers, Employers)mdash;Global Forecast till 2024

Market Scenario

The global pharmacy benefit management services market is expected to register 5.8% CAGR during the forecast period (2019ndash;2024). Pharmacy benefit management services help the patient to avail of various medical facilities. It generally helps insurance companies and their beneficiaries in insurance claim procedure and works as a bridge between them. Moreover, it connects employers, members, drug wholesalers, pharmacies, and drug companies to gain the best possible outcome with respect to healthcare claims and other services.

The increasing digitalization, increasing demand for advanced healthcare management systems, rising healthcare expenditure and growing healthcare industry in the emerging economies are expected to drive the growth of the global pharmacy benefit management services market during the forecast period. Moreover, the increasing awareness about health insurance and surge in a number of populations availing insurance are also boosting the growth of the market. According to data published by Agency for healthcare research and quality (AHRQ) in the year 2016, more than 626 health systems were present in the US, and 69.7% hospitals were covered under Compendium of U.S. Health Systems, and 92% of total patients were discharged from system hospitals.

However, lack awareness in underdeveloped economies and issues related to the safety of patientrsquo;s data may hamper the growth of the market during the assessment period.

Segmentation

The global pharmacy benefit management services market has been segmented on the basis of service, end-user, and region.

On the basis of service, the market has been classified as retail pharmacy services, specialty pharmacy services, benefit plan design and consultation, drug formulary management, and others

By end user, the market has been segmented into healthcare providers, employers, drug manufacturers, and others.

The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East amp; Africa. The pharmacy benefit management services market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.

The European pharmacy benefit management services market has been segmented into Western Europe and Eastern Europe. Western Europe has been sub-segmented into Germany, France, the UK, Italy, Spain, and the rest of Western Europe.

The pharmacy benefit management services market in Asia-Pacific has been divided into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The pharmacy benefit management services market in the Middle East amp; Africa has been segmented into the Middle East and Africa.

Regional Market

Americas is likely to dominate the pharmacy benefit management services market during the forecast period owing to the advanced technologies, increasing number of hospitals and healthcare centers in the region, increasing healthcare spending, and a large pool of insurance protected population. According to the American hospital association, the number of healthcare centers in the US is continuously increasing, and in the year 2016 number of registered hospitals in the US was 5,534, roughly 2000 hospitals were present in a rural area, and 3000+ hospitals were operating in an urban area. Additionally, according to the Centers for Medicare amp; Medicaid services healthcare expenditure grew 3.9% in 2017 and reached 3.5 trillion which is USD 10,739 per person.

The European region is expected to be the second-largest market in the global pharmacy benefit management services market owing to the rising prevalence of chronic disorders, adoption of advanced technology, fair per capita health expenditure, and favorable reimbursement policies. According to the survey conducted by The Organization for Economic Co-operation and Development (OECD), in the year 2017, the average per head spending on healthcare in Europe was USD 4,077.

The Asia-Pacific market is expected to hold a significant share in the pharmacy benefit management services market. The market growth in this region can be attributed to the rise in demand for advanced healthcare management services, increasing awareness of pharmacy benefit management services, rising geriatric population, and rising investments in healthcare. Also, countries such as India and China are considering the fastest growing region due to a government focused toward adopting advanced technology to improve the healthcare sector. According to united nations data, in 2016, approximately 12.4 percent of the population in the region was 60 years or older, but this is projected to increase to more than a quarter or 1.3 billion people by 2050.

The market in the Middle East amp; Africa is expected to account for the smallest share of the global pharmacy benefit management services market due to an underdeveloped healthcare sector, lack of technical knowledge, and poor medical facilities.

Key Players

Some of the key players in the global pharmacy benefit management services market are Abarca health LLC., CVS Health, Express Scripts, Humana Pharmacy Solutions, Magellan Rx Management, McKesson Corporation, Medimpact Healthcare, MeridianRx, OptumRx (UnitedHealth), Prime Therapeutics, Sea Rainbow, Vidalink, and others.

Global Pharmacy Benefit Management Services Market, by Service

Retail pharmacy services
Specialty pharmacy services
Benefit plan design and consultation
Drug formulary management
Others

Global Pharmacy Benefit Management Services Market, by End User

Healthcare Providers
Employers
Drug Manufacturers
Others

Global Pharmacy Benefit Management Services Market, by Region

Americas
North America
US
Canada
Latin America
Europe
Western Europe
Germany
France
Italy
Spain
UK
Rest of Western Europe
Eastern Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
Middle East amp; Africa
Middle East
Africa

Company Profiles

Abarca health LLC
CVS Health
Express Scripts
Humana Pharmacy Solutions
Magellan Rx Management
McKesson Corporation
Medimpact Healthcare
MeridianRx
OptumRx (UnitedHealth)
Prime Therapeutics
Sea Rainbow
Vidalink
Others

Intended Audience

Pharmacy benefit management service providers
Healthcare providers
Research institutes and academic centers
Contract research organizations (CROs)
Government associations

Table Of Contents

Global Pharmacy Benefit Management Services Market Research Reportmdash;Forecast till 2024

Chapter 1. Report Prologue

Chapter 2. Market Introduction

2.1. Definition

2.2. Scope Of The Study

2.2.1. Research Objective

2.2.2. Assumptions

2.2.3. Limitations

Chapter 3. Research Methodology

3.1. Introduction

3.2. Primary Research

3.3. Secondary Research

3.4. Market Size Estimation

Chapter 4. Market Dynamics

4.1. Drivers

4.2. Restraints

4.3. Opportunities

4.4. Challenges

4.5. Macroeconomic Indicators

Chapter 5. Market Factor Analysis

5.1. Porterrsquo;s Five Forces Analysis

5.1.1. Bargaining Power Of Suppliers

5.1.2. Bargaining Power Of Buyers

5.1.3. Threat Of New Entrants

5.1.4. Threat Of Substitutes

5.1.5. Intensity Of Rivalry

5.2. Value Chain Analysis

5.3. Investment Feasibility Analysis

Chapter 6. Global Pharmacy Benefit Management Services Market, By Service

6.1. Introduction

6.2. Retail Pharmacy Services

Market Estimates amp; Forecast, By Region, 2019ndash;2024

Market Estimates amp; Forecast, By Country, 2019ndash;2024

6.3. Specialty Pharmacy Services

Market Estimates amp; Forecast, By Region, 2019ndash;2024

Market Estimates amp; Forecast, By Country, 2019ndash;2024

6.4. Benefit Plan Design And Consultation

Market Estimates amp; Forecast, By Region, 2019ndash;2024

Market Estimates amp; Forecast, By Country, 2019ndash;2024

6.5. Drug Formulary Management

Market Estimates amp; Forecast, By Region, 2019ndash;2024

Market Estimates amp; Forecast, By Country, 2019ndash;2024

6.6. Others

Chapter 7. Global Pharmacy Benefit Management Services Market, By End User

7.1. Introduction

7.2. Healthcare Providers

Market Estimates amp; Forecast, By Region, 2019ndash;2024

Market Estimates amp; Forecast, By Country, 2019ndash;2024

7.3. Employers

Market Estimates amp; Forecast, By Region, 2019ndash;2024

Market Estimates amp; Forecast, By Country, 2019ndash;2024

7.4. Drug Manufacturers

Market Estimates amp; Forecast, By Region, 2019ndash;2024

Market Estimates amp; Forecast, By Country, 2019ndash;2024

7.5. Others

Chapter 8. Global Pharmacy Benefit Management Services Market, By Region

8.1. Introduction

8.2. Americas

8.2.1. North America

8.2.1.1. US

8.2.1.2. Canada

8.2.2. Latin America

8.3. Europe

8.3.1. Western Europe

8.3.1.1. Germany

8.3.1.2. France

8.3.1.3. Italy

8.3.1.4. Spain

8.3.1.5. UK

8.3.1.6. Rest Of Western Europe

8.3.2. Eastern Europe

8.4. Asia-Pacific

8.4.1. Japan

8.4.2. China

8.4.3. India

8.4.4. Australia

8.4.5. South Korea

8.4.6. Rest Of Asia-Pacific

8.5. Middle East amp; Africa

8.5.1. Middle East

8.5.2. Africa

Chapter 9. Company Landscape

9.1. Introduction

9.2. Market Share Analysis

9.3. Key Developments amp; Strategies

Chapter 10. Company Profiles

10.1. Abarca Health LLC.

10.1.1. Company Overview

10.1.2. Product Overview

10.1.3. Financial Overview

10.1.4. Key Developments

10.1.5. SWOT Analysis

10.1.6. Key Strategies

10.2. CVS Health

10.2.1. Company Overview

10.2.2. Product Overview

10.2.3. Financial Overview

10.2.4. Key Developments

10.2.5. SWOT Analysis

10.2.6. Key Strategies

10.3. Express Scripts

10.3.1. Company Overview

10.3.2. Product Overview

10.3.3. Financial Overview

10.3.4. Key Developments

10.3.5. SWOT Analysis

10.3.6. Key Strategies

10.4. Humana Pharmacy Solutions

10.4.1. Company Overview

10.4.2. Product Overview

10.4.3. Financial Overview

10.4.4. Key Developments

10.4.5. SWOT Analysis

10.4.6. Key Strategies

10.5. Magellan Rx Management

10.5.1. Company Overview

10.5.2. Product Overview

10.5.3. Financial Overview

10.5.4. Key Developments

10.5.5. SWOT Analysis

10.5.6. Key Strategies

10.6. McKesson Corporation

10.6.1. Company Overview

10.6.2. Product Overview

10.6.3. Financial Overview

10.6.4. Key Developments

10.6.5. SWOT Analysis

10.6.6. Key Strategies

10.7. Medimpact Healthcare

10.7.1. Company Overview

10.7.2. Product Overview

10.7.3. Financial Overview

10.7.4. Key Developments

10.7.5. SWOT Analysis

10.7.6. Key Strategies

10.8. MeridianRx

10.8.1. Company Overview

10.8.2. Product Overview

10.8.3. Financial Overview

10.8.4. Key Developments

10.8.5. SWOT Analysis

10.8.6. Key Strategies

10.9. OptumRx (UnitedHealth)

10.9.1. Company Overview

10.9.2. Product Overview

10.9.3. Financial Overview

10.9.4. Key Developments

10.9.5. SWOT Analysis

10.9.6. Key Strategies

10.10. Prime Therapeutics

10.10.1. Company Overview

10.10.2. Product Overview

10.10.3. Financial Overview

10.10.4. Key Developments

10.10.5. SWOT Analysis

10.10.6. Key Strategies

10.11. Sea Rainbow

10.11.1. Company Overview

10.11.2. Product Overview

10.11.3. Financial Overview

10.11.4. Key Developments

10.11.5. SWOT Analysis

10.11.6. Key Strategies

10.12. Vidalink

10.12.1. Company Overview

10.12.2. Product Overview

10.12.3. Financial Overview

10.12.4. Key Developments

10.12.5. SWOT Analysis

10.12.6. Key Strategies

10.13. Others

10.14. .

Chapter 11. Conclusion

11.1. Key Findings

11.1.1. From CEOrsquo;s Viewpoint

11.1.2. Unmet Needs Of The Market

11.2. Key Companies To Watch

11.3. Predictions For The Pharmacy Benefit Management Services Industry

Chapter 12. Appendix

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Last Updated: 04-Jul-2019