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Pharmacy Benefit Management - Global Strategic Business Report

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    Report

  • 294 Pages
  • October 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 5980820
The global market for Pharmacy Benefit Management was valued at an estimated US$524.2 Billion in 2023 and is projected to reach US$690.4 Billion by 2030, growing at a CAGR of 4.0% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

The growth in the Pharmacy Benefit Management market is driven by several factors. The rising cost of prescription drugs has led to an increased demand for cost-containment strategies, positioning PBMs as crucial players in the healthcare system. Advances in data analytics and health information technology have enhanced the ability of PBMs to analyze drug utilization patterns and implement more effective cost-control measures. The growing prevalence of chronic diseases and the increasing complexity of drug therapies have also contributed to the demand for PBM services.

Furthermore, regulatory changes and government initiatives aimed at increasing transparency and reducing drug prices have influenced the PBM landscape. The expansion of healthcare coverage and the shift towards value-based care models have further underscored the importance of PBMs in managing prescription drug benefits efficiently. These factors collectively drive the robust growth of the PBM market, highlighting its critical role in the healthcare industry.

Key Insights:

  • Market Growth: Understand the significant growth trajectory of the Specialty Pharmacy Services segment, which is expected to reach US$261.1 Billion by 2030 with a CAGR of a 4.6%. The Pharmacy Claims Processing segment is also set to grow at 3.4% CAGR over the analysis period.
  • Regional Analysis: Gain insights into the U.S. market, estimated at $142.8 Billion in 2023, and China, forecasted to grow at an impressive 7.6% CAGR to reach $147.1 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

  • Detailed Market Analysis: Access a thorough analysis of the Global Pharmacy Benefit Management Market, covering all major geographic regions and market segments.
  • Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
  • Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Pharmacy Benefit Management Market.
  • Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

  • How is the Global Pharmacy Benefit Management Market expected to evolve by 2030?
  • What are the main drivers and restraints affecting the market?
  • Which market segments will grow the most over the forecast period?
  • How will market shares for different regions and segments change by 2030?
  • Who are the leading players in the market, and what are their prospects?

Report Features:

  • Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
  • In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
  • Company Profiles: Coverage of major players such as Abarca Health LLC, AffirmedRx, PBC, Assaf Al Saab Company (Waseel), and more.
  • Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Select Competitors (Total 51 Featured):

  • Abarca Health LLC
  • AffirmedRx, PBC
  • Assaf Al Saab Company (Waseel)
  • Burgess Information Systems, Inc. (ProCare Rx)
  • Carelon
  • Cigna Corporation
  • CVS Health Corporation
  • Elixir Rx Solutions, LLC
  • Express Scripts Holding Company
  • Magellan Health, Inc.
  • MediKredit Integrated Healthcare Solutions
  • Medimpact Healthcare Systems, Inc.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Global Economic Update
  • Pharmacy Benefit Management - Global Key Competitors Percentage Market Share in 2024 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Increasing Prescription Drug Costs Propel Demand for Effective Pharmacy Benefit Management
  • Regulatory Changes Throw the Spotlight on Transparency in PBM Pricing Models
  • How Generic Drug Utilization Strengthens the Business Case for PBMs
  • Advancements in Data Analytics Drive Adoption of Sophisticated PBM Software Solutions
  • Patient-Centric Care Trends Accelerate Demand for Integrated PBM Services
  • Healthcare Cost Containment Pressures Spur Growth in PBM Services
  • Emergence of Digital Pharmacies and Their Impact on Traditional PBM Models
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Pharmacy Benefit Management Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
  • Table 2: World Recent Past, Current & Future Analysis for Pharmacy Benefit Management by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 3: World Historic Review for Pharmacy Benefit Management by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 4: World 16-Year Perspective for Pharmacy Benefit Management by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2024 & 2030
  • Table 5: World Recent Past, Current & Future Analysis for Specialty Pharmacy Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 6: World Historic Review for Specialty Pharmacy Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 7: World 16-Year Perspective for Specialty Pharmacy Services by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 8: World Recent Past, Current & Future Analysis for Pharmacy Claims Processing by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 9: World Historic Review for Pharmacy Claims Processing by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 10: World 16-Year Perspective for Pharmacy Claims Processing by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 11: World Recent Past, Current & Future Analysis for Benefit Plan Design & Administration by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 12: World Historic Review for Benefit Plan Design & Administration by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 13: World 16-Year Perspective for Benefit Plan Design & Administration by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 14: World Recent Past, Current & Future Analysis for Formulary Management by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 15: World Historic Review for Formulary Management by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 16: World 16-Year Perspective for Formulary Management by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 17: World Recent Past, Current & Future Analysis for Other Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 18: World Historic Review for Other Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 19: World 16-Year Perspective for Other Services by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 20: World Recent Past, Current & Future Analysis for Insurance Company by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 21: World Historic Review for Insurance Company by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 22: World 16-Year Perspective for Insurance Company by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 23: World Recent Past, Current & Future Analysis for Retail Pharmacy by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 24: World Historic Review for Retail Pharmacy by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 25: World 16-Year Perspective for Retail Pharmacy by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 26: World Recent Past, Current & Future Analysis for Standalone PBMs by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 27: World Historic Review for Standalone PBMs by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 28: World 16-Year Perspective for Standalone PBMs by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
III. MARKET ANALYSIS
UNITED STATES
  • Pharmacy Benefit Management Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
CANADA
JAPAN
  • Pharmacy Benefit Management Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
CHINA
  • Pharmacy Benefit Management Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
EUROPE
  • Pharmacy Benefit Management Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
FRANCE
  • Pharmacy Benefit Management Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
GERMANY
  • Pharmacy Benefit Management Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
ITALY
UNITED KINGDOM
  • Pharmacy Benefit Management Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Pharmacy Benefit Management Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
AUSTRALIA
  • Pharmacy Benefit Management Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2024 (E)
INDIA
  • Pharmacy Benefit Management Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2024 (E)
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Pharmacy Benefit Management Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2024 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Pharmacy Benefit Management Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2024 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Pharmacy Benefit Management Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2024 (E)
IV. COMPETITION

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Abarca Health LLC
  • AffirmedRx, PBC
  • Assaf Al Saab Company (Waseel)
  • Burgess Information Systems, Inc. (ProCare Rx)
  • Carelon
  • Cigna Corporation
  • CVS Health Corporation
  • Elixir Rx Solutions, LLC
  • Express Scripts Holding Company
  • Magellan Health, Inc.
  • MediKredit Integrated Healthcare Solutions
  • Medimpact Healthcare Systems, Inc.

Table Information