New Drug Channels Institute Study Finds Five Pharmacies Now Dominate U.S. Prescription Dispensing, Identifies Key Trends in How Consumers Shop for Prescriptions
PHILADELPHIA (BUSINESS WIRE) January 22, 2013—Today the Drug Channels Institute released the results of its exclusive, in-depth analysis of market share in the highly dynamic prescription pharmaceutical industry. The top five dispensing pharmacies—CVS Caremark, Walgreens, Express Scripts, Rite Aid, and Walmart—accounted for a record-high 63% of U.S. prescription dispensing revenues in 2012, said Drug Channels Institute CEO Adam J. Fein, Ph.D., the study’s author and a widely regarded expert on pharmacy economics and the pharmaceutical supply chain. “Next year,” Fein added, “these companies will benefit from healthcare reform’s implementation, which will sharply increase U.S. spending on prescription drugs.”
The finding is one of many new revelations and trends in Drug Channels Institute’s just-released 2012-13 Economic Report on Retail, Mail, and Specialty Pharmacies. This comprehensive, 152-page analysis of the $276.5 billion U.S. pharmacy industry thoroughly dissects its interactions with the U.S. healthcare system. The report also explains how U.S. healthcare reform will increase spending on drugs due to such factors as the healthcare coverage expansion, the shrinking Medicare Part D coverage gap, and new government requirements for prescription drug coverage.
With 82 proprietary charts, exhibits, and data tables, this new research report is the most complete examination of prescription economics, market structure, growth rates, and key trends affecting future profitability. The report delves into brand-new government data to explain how pharmacies are profiting from $4 prescriptions. What’s more, it analyzes how new pharmacy networks are changing consumer shopping behavior.
“To save money, government and commercial payers are moving away from open pharmacy networks,” Fein reveals. “We found that America’s seniors are also voting for these networks with their wallets. For 2013, 44% of Medicare Part D beneficiaries chose a plan that financially rewards them for using a preferred pharmacy.”
To purchase and immediately download the new report, please 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, visit http://www.drugchannelsinstitute.com/.
Pembroke Consulting, Inc.
215-523-5700 extension 14
Source: Business Wire