Pharmacy Benefit Manager Market 2019: Analysis By Product Type, Industry Segmentation, Regions and Applications,Forecast by 2026 Key Players MedImpact Direct, LLC., Micro Merchant Systems, Inc., Prime Therapeutics LLC, Rite Aid Corp., Centene Corporation

A pharmacy benefit manager Industry is a third-party administrator of prescription-drug programs for end payers, such as private insurers, and Medicare Part D plans. With preferred formularies and exclusion lists, PBMs dictate which drugs consumers can receive from their plan without incurring additional out-of-pocket costs.

They also leverage access to their formularies, and threats of exclusion, to negotiate rebates and discounts from the world's drugmakers.
Global Pharmacy Benefit Management Services Market report provides a comprehensive analysis of the Global Pharmacy Benefit Management Services Market sales by showing all the figures in the historic and base year while showing the approximate figures in the forecasted years of 2019-2026.

The report further provides a deep explanation regarding the market definition, classifications, applications, and engagements. It further provides a deep insight of key players’ and brands’ activities in terms of their sales, import, export, and revenue and their actions are in terms of their recent product launches, researches, their joint ventures, mergers, and accusations.

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Pharmacy benefit management services provide several medical facilities to patients. They are run by third party administrators (TPAs) who acct as link between pharmacists, insurance companies, claimers of insurance and drug manufacturers. They help in reducing the price of drugs, manage prescriptions, plan the best health plans for patients by offering discounts and rebates. They offer medicines at affordable prices as compared to those sold by retail pharmacists.

Key Market Competitors: Global Pharmacy Benefit Management Services Market

• Cigna,
• CVS Health,
• UnitedHealth Group,
• Anthem, Inc.,
• Centene Corporation,
• DST Systems, Inc.,
• Kaiser Foundation Health Plan, Inc.,
• Magellan Health, Inc.,
• McKesson Corporation,
• MedImpact Direct, LLC.,
• Micro Merchant Systems, Inc.,
• Prime Therapeutics LLC,
• Rite Aid Corp.,
• TrialCard Incorporated,
• Walgreens Boots Alliance, Inc.

Market Drivers

• Increasing occurrence of generic and chronic diseases and the desire to effectively and efficiently medicate such illness drives the demand for pharmacy benefit manager services
• Increased demand for insurance services, and increase in the number of people availing insurance stimulates the demand for pharmacy benefit manager services
• Advancements in healthcare and the rising demand for such health care services boosts the growth of this market

Competitive Analysis: Global Pharmacy Benefit Management Services Market

Global pharmacy benefit management services market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of pharmacy benefit management services for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Market Restraints

• Lack of awareness amongst consumers about the benefits of the service
• Misuse of patient’s data restrains the growth of the market

Segmentation: Global Pharmacy Benefit Management Services Market

By Type
(Commercial Health Plans, Self-Insured Employer Plans, Medicare Part D Plans, Federal Employees Health Benefits Program, State Government Employee Plans),

Application

(Mail-Order Pharmacy Services, Non-Mail Pharmacy Services),

Service

(Retail Pharmacy Services, Specialty Pharmacy Services, Benefit Plan Design & Consultation, Network-Pharmacy Claims Processing, Home Delivery Pharmacy Care, Drug Utilization Review, Drug Formulary Management, Medical & Drug Data Analysis Services, Others),

End-User

(Healthcare Providers, Employers, Drug Manufacturers, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)

Key Developments in the Market:

• In December 2018, Cigna Corporation announced that they had acquired pharmacy benefit manager, Express Scripts for an approximate USD 67 billion. With this, they would provide wider choice and affordable services to their customers revolutionizing their health care system and benefitting their customers, clients, partners and the entire society on a large.

• In November 2018, CVS Health announced that they had completed the acquisition of Aetna, Inc. after they had received the approval of their USD 69 billion merger from the regulatory authorities. This acquisition is expected to revolutionize the entire healthcare industry as the strong resources of CVS would be merged with Aetna’s large network, thereby resulting in better relationships with customers, and provision of best health care services.

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Focus of the report:

• The study provides an in-depth analysis of the Global Pharmacy Benefit Management Services Market and current & future trends to elucidate imminent investment pockets.

• Changing market dynamics of the industry
• Strategies of key players and product offerings
• In-depth market segmentation
• Recent industry trends and developments
• Analyze and forecast Global Pharmacy Benefit Management Services Market on the basis of type, function and application.

Major Topics Covered in this Report:

1 Study Coverage
2 Executive Summary
3 Market Size by Manufacturers

4 Production by Regions
5 Consumption by Regions
6 Market Size by Type

7 Market Size by Application
8 Manufacturers Profiles
9 Production Forecasts

10 Consumption Forecast
11 Upstream, Industry Chain and Downstream Customers Analysis
12 Opportunities & Challenges, Threat and Affecting Factors

13 Key Findings
14 Appendix

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