(MENAFN- EIN Presswire)
Pharmacy Benefit Management Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Pharmacy Benefit Management Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The pharmacy benefit management market size is expected to see strong growth in the next few years. It will grow to $878.37 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%.” - The Business Research Company
LONDON, GREATER LONDON, UNITED KINGDOM, October 29, 2024 /EINPresswire / -- The Business Research Company's Early Year-End Sale! Get up to 30% off detailed market research reports-limited time only!
The pharmacy benefit management market has experienced significant growth in recent years. It is projected to expand from $597.17 billion in 2023 to $644.58 billion in 2024, reflecting a compound annual growth rate (CAGR) of 7.9%. The growth during the historical period can be attributed to a greater emphasis on preventive care, the expansion of pharmacy networks, collaborations with healthcare providers, a focus on improving patient outcomes, and advancements in pharmaceutical therapies.
How Much Will the Global Pharmacy Benefit Management Market Grow, and What Is the Predicted Annual Growth Rate?
The pharmacy benefit management market is expected to experience robust growth in the coming years, reaching $878.37 billion by 2028 at a compound annual growth rate (CAGR) of 8.0%. This growth during the forecast period is driven by increasing demands for healthcare cost control, a rise in prescription drug usage, the expansion of health insurance coverage, adherence to regulatory changes, and a shift towards patient-centric healthcare.
Explore the Full Scope of the Global Pharmacy Benefit Management Market with an In-Depth Sample Report:
What Are The Top Drivers Contributing To The Growth Of The Pharmacy Benefit Management Market?
The increasing number of people obtaining insurance significantly boosts the growth of the pharmacy benefit management market. Insurance helps mitigate rising medical costs by covering expenses for treatments, hospitalizations, and health check-ups. Likewise, pharmacy benefit management (PBM) services offer comprehensive healthcare by integrating both medical and pharmaceutical products. This provides insurers with detailed patient information, enabling them to deliver more effective healthcare programs to their patients.
Pre-book the report for a swift delivery:
Which Companies Are Leading Growth in the Pharmacy Benefit Management Market?
Key players in the pharmacy benefit management market include CVS Health Corporation, Cigna Corporation, Centene Corporation, Anthem Inc., OptumRx Inc., Humana Pharmacy Solutions Inc., Rite Aid Corporation, Magellan Health Inc., Prime Therapeutics LLC, MaxorPlus Ltd., RxAdvance Corp, MedImpact Healthcare Systems Inc., PerformRx LLC., Navitus Health Solutions LLC, WellDyneRx Inc., Healthesystems LLC., Catalyst Rx Inc
What Are the Key Trends Defining the Pharmacy Benefit Management Market Size?
Leading companies in the pharmacy benefit management market are increasingly focusing on launching digital prescription technology platforms to enhance their competitive advantage. Digital prescription technology involves the use of electronic systems and software to generate, transmit, store, and manage medication prescriptions.
What Are The Key Segments Of The Global Pharmacy Benefit Management Market?
1) By Services: Mail-Delivery, Specialty Pharmacy, Preferred Network Pharmacy
2) By Type: Commercial Health Plans, Self-Insured Employer Plans, Medicare Part D Plans, Federal Employees Health Benefits Program
3) By End User: Pharmacy Benefit Management Organization, Mail Order Pharmacies, Retail Pharmacies, Inpatient Pharmacies, Outpatient Pharmacies
Geographical Highlights: North America Leading Pharmacy Benefit Management Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is The Definition And Scope Of The Pharmacy Benefit Management Market Overview?
Pharmacy benefit management consists of businesses that act as intermediaries between insurance companies, pharmacies, and drug distributors. Its purpose is to help insurers and insurance companies lower prescription costs by negotiating with pharmacists and pharmaceutical manufacturers.
The Pharmacy Benefit Management Global Market Report 2024 from The Business Research Company includes the following key information:
. Market size data for both historical and future periods
. Analysis of both macro and microeconomic factors that have impacted the market over the past five years
. Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
. Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Pharmacy Benefit Management Market Report: Trends, Opportunities, Strategies, and More
The Pharmacy Benefit Management Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into pharmacy benefit management market size, pharmacy benefit management market drivers and trends, pharmacy benefit management competitors' revenues, and pharmacy benefit management market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
Browse Through More Similar Reports By The Business Research Company:
Pharmacies and Healthcare Stores Global Market Report 2024
Orthopedic Braces And Support Devices And Equipment Global Market Report 2024
Medical Tourism Global Market Report 2024
What Services Does The Business Research Company Offer?
The Business Research Company has published more than 15,000 reports spanning 27 industries and over 60 regions. Our research is supported by 1.5 million datasets, thorough secondary research, and unique insights gained from interviews with industry experts. We offer ongoing and customized research services, featuring a variety of specialized packages designed to meet your specific needs, such as Market Entry Research, Competitor Tracking, Supplier & Distributor Packages, and many others.
Our flagship product, the Global Market Model, serves as a leading market intelligence platform that provides comprehensive and updated forecasts to facilitate informed decision-making.
Oliver Guirdham
The Business Research Company
+44 20 7193 0708
email us here
Visit us on social media:
Facebook
X
LinkedIn
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
MENAFN29102024003118003196ID1108827913