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The pharmacy benefit management market is forecasted to achieve significant growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 6%, as per The Business Research Company’s market report!

Read More On The Pharmacy Benefit Management Market Report 2022 – https://www.thebusinessresearchcompany.com/report/pharmacy-benefit-management-global-market-report

The Pharmacy Benefit Management Market Size In 2022 And Forecast

The global pharmacy benefit management market is expected to grow from $506.27 billion in 2021 to $537.78 billion in 2022 at a compound annual growth rate (CAGR) of 6.22%. The global pharmacy benefit management market is expected to reach $685.91 billion in 2026 at a CAGR of 6.27%.

The pharmacy benefit management market consists of sales of pharmacy benefit management services and solutions by entities (organizations, sole traders, and partnerships) that refer to a collection of businesses that function as intermediaries between insurance companies, pharmacies, and drug distributors.

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The Rise In The Number Of People With Access To Insurance Is Driving The Growth Of The Pharmacy Benefit Management Market

For instance, according to the India Brand Equity Foundation (IBEF), new premiums of life insurers registered 22.2% growth in September 2021, up 2.9% from September 2020. Therefore, the rise in the number of people availing of insurance is driving the growth of the pharmacy benefit management market.

Competitive Landscape And The Regional Analysis Of The Pharmacy Benefit Management Market

CVS Health, Cigna, OptumRx Inc, Anthem Inc, Centene Corporation, Abarca Health LLC, Medimpact, Express Scripts Holding Company, ProCare Rx, Aetna Inc, Magellan Health Inc, Prime Therapeutics LLC, SS&c Technologies, UnitedHealth Group, Rite Aid Corp, Benecard Services LLC, Rite Aid Corp and Benecard Services LL.

Additionally, as per TBRC’s research – North America was the largest region in the pharmacy benefit management market in 2021 holding the largest market share and Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The Pharmacy Benefit Management Global Market Report 2022  covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the pharmacy benefit management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the pharmacy benefit management market.

Strategic Partnerships – A Key Trend In The Pharmacy Benefit Management Market

Strategic partnerships help organizations enter into a new market and expand by leveraging each other’s resources.

Pharmacy Benefit Management Market Segmentation By The Business Research Company

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

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