Global Pharmacy Benefit Management (PBM) Market Growth (Status and Outlook) 2023-2029

Global Pharmacy Benefit Management (PBM) Market Growth (Status and Outlook) 2023-2029

The term pharmacy benefit management (PBM) industry refers to a group of companies that serve as the middlemen between insurance companies, pharmacies, and drug manufacturers. PBMs are responsible for securing lower drug costs for insurers and insurance companies. They accomplish this by negotiating with pharmacies and drug manufacturers. The discounts are then passed onto insurance companies. Profits are generated through the slight up-charging of drugs or retaining portions of rebates.

LPI (LP Information)' newest research report, the “Pharmacy Benefit Management (PBM) Industry Forecast” looks at past sales and reviews total world Pharmacy Benefit Management (PBM) sales in 2022, providing a comprehensive analysis by region and market sector of projected Pharmacy Benefit Management (PBM) sales for 2023 through 2029. With Pharmacy Benefit Management (PBM) sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Pharmacy Benefit Management (PBM) industry.

This Insight Report provides a comprehensive analysis of the global Pharmacy Benefit Management (PBM) landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Pharmacy Benefit Management (PBM) portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Pharmacy Benefit Management (PBM) market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Pharmacy Benefit Management (PBM) and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Pharmacy Benefit Management (PBM).

The global Pharmacy Benefit Management (PBM) market size is projected to grow from US$ 460290 million in 2022 to US$ 688130 million in 2029; it is expected to grow at a CAGR of 5.9% from 2023 to 2029.

Three major PBMs maufacturters include Express Scripts, CVS Health, and OptumRx, which comprise 75% of the market.

America is enjoying the largest market share of pharmacy benefit management (PBM), with a market share nearly 97%. EU is the second place, enjoying market share nearly 2%.In terms of product, government is the largest segment, with a share over 70%. And in terms of application, the largest application is non-mail pharmacy services, followed by mail-order pharmacy services.

This report presents a comprehensive overview, market shares, and growth opportunities of Pharmacy Benefit Management (PBM) market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type
Government
Non-Government

Segmentation by application
Mail-order Pharmacy Services
Non-mail Pharmacy Services

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
CVS Health (CVS)
Express Scripts
OptumRx (UnitedHealth)
Humana Pharmacy Solutions
Prime Therapeutics
Medimpact Healthcare
Magellan Health
BC/BS
Vidalink
Sea Rainbow
Cachet
CRHMS

Please note: The report will take approximately 2 business days to prepare and deliver.