PHILADELPHIA–(BUSINESS WIRE)–Today Drug Channels Institute, a leading management educator for and about the pharmaceutical industry, released its exclusive, in-depth analysis of the highly dynamic pharmacy industry. “We project that the pharmacy industry’s revenues will exceed $483 billion in 2020,” said Drug Channels Institute CEO Adam J. Fein, Ph.D., the study’s author and a widely respected expert on pharmacy economics and the pharmaceutical supply chain. “Expensive specialty medications that treat such illnesses as cancer, multiple sclerosis, and hepatitis C will account for almost half of the pharmacy industry’s revenues by 2020.”
In another key finding, Drug Channels Institute’s new 2016 Economic Report on Retail, Mail, and Specialty Pharmacies reveals how pharmacy benefit managers and third-party payers are controlling patients’ access to products and pharmacies. “To control costs and manage access, PBMs and health plans limit the number of pharmacies available to a beneficiary,” Fein adds. “Payers also determine pharmacy benefit designs, which increasingly shift specialty drug costs to consumers in the form of high copayments and coinsurance.”
These findings are among the many insights and trends in this highly regarded report, now in its seventh edition. With 129 proprietary charts, exhibits, and data tables, it offers the only complete examination of the pharmacy industry’s prescription economics, reimbursement models, market structure, growth rates, forces of change, and interactions within the U.S. healthcare system.
“Competition is forcing pharmacies to reduce their prescription profit margins,” Fein says. “Consequently, pharmacies are seeking new reimbursement models and looking to be compensated for healthcare services.”
The report also analyzes the crucial healthcare trends that will affect retail, mail, and specialty pharmacies. It explores such factors as healthcare reform, biosimilars, the controversial 340B drug pricing program, pharmacy consolidation, manufacturers’ channel strategies, and more.
To purchase and immediately download the new report, visit http://drugchannelsinstitute.com/products/industry_report/pharmacy/.
About Drug Channels Institute
Drug Channels Institute, a division of Pembroke Consulting, Inc., is a leading provider of specialized management education and computer-based training for and about the pharmaceutical industry. To learn more about its products, visithttp://www.drugchannelsinstitute.com/. To access Dr. Fein’s popular Drug Channels blog, visit http://www.drugchannels.net.