Dublin, July 08, 2024 (GLOBE NEWSWIRE) -- The "Pharmacy Benefit Management - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
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 $147.1 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Questions Answered:
- How is the Global Pharmacy Benefit Management Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ 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.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 294 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $524.2 Billion |
| Forecasted Market Value (USD) by 2030 | $690.4 Billion |
| Compound Annual Growth Rate | 4.0% |
| Regions Covered | Global |
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)
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
FOCUS ON SELECT PLAYERS(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.
For more information about this report visit https://www.researchandmarkets.com/r/h7haw7
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