March 5, 2024

U.S. Pharmacy Benefit Management Market Size to Garner USD 1,219.54 Billion by 2032

The global U.S. pharmacy benefit management market size was estimated to be around US$ 513.26 billion in 2022. It is projected to reach US$ 1,219.54 billion by 2032, indicating a CAGR of 9.04% from 2023 to 2032.

U.S. Pharmacy Benefit Management Market Size 2023 To 2032

Key Takeaways:

  • By Business Model, the standalone PBM segment dominated the market with the largest market share of 60% in 2022.
  • By Business Model, the healthcare insurance provider segment is expected to generate significant revenue throughout the forecast period.
  • By Services, the specialty pharmacies segment dominated the market in 2022.
  • By Services, the retail services segment is expected to witness significant growth during the predicted timeframe.
  • By End-user, the commercial segment projected the highest market growth in 2022.
  • By End-user, the federal segment is expected to dominate the market during the anticipated time period.

The market research report on the U.S. pharmacy benefit management market provides a comprehensive analysis of various key aspects. It includes the definition, classification, and application of U.S. pharmacy benefit management products. The report examines the development trends, competitive landscape, and industrial chain structure within the industry. Furthermore, it presents an overview of the industry, analyzes national policies and planning, and offers insights into the latest market dynamics and opportunities at a global level.

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Report Scope of the U.S. Pharmacy Benefit Management Market:

Report Coverage Details
Market Size in 2023 USD 559.66 Billion
Market Size by 2032 USD 1,219.54 Billion
Growth Rate from 2023 to 2032 CAGR of 9.04%
Base Year 2022
Forecast Period 2023 To 2032
Segments Covered By Business Model, By Service, and By End-user

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The report presents the volume and value-based market size for the base year 2022 and forecasts the market’s growth between 2023 and 2032. It estimates market numbers based on product form and application, providing size and forecast for each application segment in both global and regional markets.

Focusing on the global U.S. pharmacy benefit management market, the report highlights its status, future forecasts, growth opportunities, key market players, and key market regions such as the United States, Europe, and China. The study aims to present the development of the U.S. pharmacy benefit management market by considering factors like Year-on-Year (Y-o-Y) growth, in addition to Compound Annual Growth Rate (CAGR). This approach enables a better understanding of market certainty and the identification of lucrative opportunities.

Regarding production, the report investigates the capacity, production, value, ex-factory price, growth rate, and market share of major manufacturers, regions, and product types. On the consumption side, the report focuses on the regional consumption of U.S. pharmacy benefit management products across different countries and applications.

Buyers of the report gain access to verified market figures, including global market size in terms of revenue and volume. The report provides reliable estimations and calculations for global revenue and volume by product type from 2023 to 2032. It also includes accurate figures for production capacity and production by region during the same period.

The research includes product parameters, production processes, cost structures, and data classified by region, technology, and application. Furthermore, it conducts SWOT analysis and investment feasibility studies for new projects.

This in-depth research report offers valuable insights into the U.S. pharmacy benefit management market. It employs an objective and fair approach to analyze industry trends, supporting customer competition analysis, development planning, and investment decision-making. The project received support and assistance from technicians and marketing personnel across various links in the industry chain.

The competitive landscape section of the report provides detailed information on U.S. pharmacy benefit management market competitors. It includes company overviews, financials, revenue generation, market potential, research and development investments, new market initiatives, global presence, production sites, production capacities, strengths and weaknesses, product launches, product range, and application dominance. However, the data points provided only focus on the companies’ activities related to the U.S. pharmacy benefit management market.

Prominent players in the market are expected to face tough competition from new entrants. Key players are targeting acquisitions of startup companies to maintain their dominance. The report

Reasons to Purchase this Report:

  • Comprehensive market segmentation analysis incorporating qualitative and quantitative research, considering the impact of economic and policy factors.
  • In-depth regional and country-level analysis, examining the demand and supply dynamics that influence market growth.
  • Market size in USD million and volume in million units provided for each segment and sub-segment.
  • Detailed competitive landscape, including market share of major players, recent projects, and strategies implemented over the past five years.
  • Comprehensive company profiles encompassing product offerings, key financial information, recent developments, SWOT analysis, and employed strategies by major market players.

Key Market Players:

  • CVS Health
  • Cigna
  • Optum, Inc.
  • MedImpact
  • Anthem
  • Change Healthcare
  • Prime Therapeutics LLC
  • HUB International Limited.
  • Elixir Rx Solutions LLC

Segment Covered in the Report:

By Business Model

  • Standalone PBM
  • Health Insurance Providers

By Service

  • Specialty Pharmacy
  • Retail Pharmacy

By End-user

  • Commercial
  • Federal

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology (Premium Insights)

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on U.S. Pharmacy Benefit Management Market 

5.1. COVID-19 Landscape: U.S. Pharmacy Benefit Management Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. U.S. Pharmacy Benefit Management Market, By Business Model

8.1. U.S. Pharmacy Benefit Management Market, by Business Model, 2023-2032

8.1.1 Standalone PBM

8.1.1.1. Market Revenue and Forecast (2020-2032)

8.1.2. Health Insurance Providers

8.1.2.1. Market Revenue and Forecast (2020-2032)

Chapter 9. U.S. Pharmacy Benefit Management Market, By Service

9.1. U.S. Pharmacy Benefit Management Market, by Service, 2023-2032

9.1.1. Specialty Pharmacy

9.1.1.1. Market Revenue and Forecast (2020-2032)

9.1.2. Retail Pharmacy

9.1.2.1. Market Revenue and Forecast (2020-2032)

Chapter 10. U.S. Pharmacy Benefit Management Market, By End-user 

10.1. U.S. Pharmacy Benefit Management Market, by End-user, 2023-2032

10.1.1. Commercial

10.1.1.1. Market Revenue and Forecast (2020-2032)

10.1.2. Federal

10.1.2.1. Market Revenue and Forecast (2020-2032)

Chapter 11. U.S. Pharmacy Benefit Management Market, Estimate and Trends Forecast

11.1. U.S.

11.1.1. Market Revenue and Forecast, by Business Model (2020-2032)

11.1.2. Market Revenue and Forecast, by Service (2020-2032)

11.1.3. Market Revenue and Forecast, by End-user (2020-2032)

Chapter 12. Company Profiles

12.1. CVS Health

12.1.1. Company Overview

12.1.2. Product Offerings

12.1.3. Financial Performance

12.1.4. Recent Initiatives

12.2. Cigna

12.2.1. Company Overview

12.2.2. Product Offerings

12.2.3. Financial Performance

12.2.4. Recent Initiatives

12.3. Optum, Inc.

12.3.1. Company Overview

12.3.2. Product Offerings

12.3.3. Financial Performance

12.3.4. Recent Initiatives

12.4. MedImpact

12.4.1. Company Overview

12.4.2. Product Offerings

12.4.3. Financial Performance

12.4.4. Recent Initiatives

12.5. Anthem

12.5.1. Company Overview

12.5.2. Product Offerings

12.5.3. Financial Performance

12.5.4. Recent Initiatives

12.6. Change Healthcare

12.6.1. Company Overview

12.6.2. Product Offerings

12.6.3. Financial Performance

12.6.4. Recent Initiatives

12.7. Prime Therapeutics LLC

12.7.1. Company Overview

12.7.2. Product Offerings

12.7.3. Financial Performance

12.7.4. Recent Initiatives

12.8. HUB International Limited.

12.8.1. Company Overview

12.8.2. Product Offerings

12.8.3. Financial Performance

12.8.4. Recent Initiatives

12.9. Elixir Rx Solutions LLC

12.9.1. Company Overview

12.9.2. Product Offerings

12.9.3. Financial Performance

12.9.4. Recent Initiatives

12.10. Abbott

12.10.1. Company Overview

12.10.2. Product Offerings

12.10.3. Financial Performance

12.10.4. Recent Initiatives

Chapter 13. Research Methodology

13.1. Primary Research

13.2. Secondary Research

13.3. Assumptions

Chapter 14. Appendix

14.1. About Us

14.2. Glossary of Terms

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Prathamesh

I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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