Pharmacy Benefit Management Market Size

For instance, according to the Centers for Medicare & Medicaid Services, in December 2021, it was reported that the total national health expenditure in the U.S. increased to USD 4.1 trillion in 2020, which was a growth of 9.7% as compared to the previous year. Thus, a significant number of insurance providers are relying on the service providers to negotiate the drug price with retail pharmacy units and lower the price of the listed drugs in the insurance coverage. Furthermore, increasing initiatives, such as extending mail order delivery services and strengthening distribution network in remote areas, were responsible for the growing adoption of these services. Hence, these initiatives by the major players coupled with increasing demand for specialty drugs boosted the pharmacy benefit management market growth during the COVID-19 pandemic. Request a Free sample to learn more about this report.