Pharmacy Benefit Management Services Market Research Report—Forecast till 2027

Pharmacy Benefit Management Services Market Report: Information by Service (Retail pharmacy services, Specialty pharmacy services, Benefit plan design and consultation, Others), End User (Healthcare Providers, Employers)- Forecast till 2027

ID: MRFR/HC/6374-HCR | February 2021 | Region: Global | 85 pages

Please note that the assessment period of report has been updated from 2019-2024 to 2020-2027. Cordially fill the sample form for updated data.

Pharmacy Benefit Management Services Market Scenario


The pharmacy benefit management services market is expected to register 5.8% CAGR during the forecast period (2019–2024).


Pharmacy benefit management services help the patient to avail of various medical facilities. It generally helps insurance companies and their beneficiaries in insurance claim procedure and works as a bridge between them. Moreover, it connects employers, members, drug wholesalers, pharmacies, and drug companies to gain the best possible outcome with respect to healthcare claims and other services.


The increasing digitalization, increasing demand for advanced healthcare management systems, rising healthcare expenditure and growing healthcare industry in the emerging economies are expected to drive the growth of the pharmacy benefit management services market during the forecast period. Moreover, the increasing awareness about health insurance and surge in a number of populations availing insurance are also boosting the growth of the market. According to data published by Agency for healthcare research and quality (AHRQ) in the year 2016, more than 626 health systems were present in the US, and 69.7% hospitals were covered under Compendium of U.S. Health Systems, and 92% of total patients were discharged from system hospitals.


However, lack awareness in underdeveloped economies and issues related to the safety of patient’s data may hamper the growth of the market during the assessment period.


Pharmacy Benefit Management Services Market Segmentation


The global pharmacy benefit management services market has been segmented on the basis of service, end-user, and region.


On the basis of service, the market has been classified as retail pharmacy services, specialty pharmacy services, benefit plan design and consultation, drug formulary management, and others


By end user, the market has been segmented into healthcare providers, employers, drug manufacturers, and others.


The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The pharmacy benefit management services market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.


The European pharmacy benefit management services market has been segmented into Western Europe and Eastern Europe. Western Europe has been sub-segmented into Germany, France, the UK, Italy, Spain, and the rest of Western Europe. 


The pharmacy benefit management services market in Asia-Pacific has been divided into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The pharmacy benefit management services market in the Middle East & Africa has been segmented into the Middle East and Africa.


Regional Market Summary


Global Pharmacy Benefit Management Services Market Share, by Region, 2018 (%)


 Pharmacy Benefit Management Services Market


Source: MRFR Analysis


Americas is likely to dominate the pharmacy benefit management services market during the forecast period owing to the advanced technologies, increasing number of hospitals and healthcare centers in the region, increasing healthcare spending, and a large pool of insurance protected population. According to the American hospital association, the number of healthcare centers in the US is continuously increasing, and in the year 2016 number of registered hospitals in the US was 5,534, roughly 2000 hospitals were present in a rural area, and 3000+ hospitals were operating in an urban area. Additionally, according to the Centers for Medicare & Medicaid services healthcare expenditure grew 3.9% in 2017 and reached 3.5 trillion which is USD 10,739 per person.     


The European region is expected to be the second-largest market in the global pharmacy benefit management services market owing to the rising prevalence of chronic disorders, adoption of advanced technology, fair per capita health expenditure, and favorable reimbursement policies.   According to the survey conducted by The Organization for Economic Co-operation and Development (OECD), in the year 2017, the average per head spending on healthcare in Europe was USD 4,077.


The Asia-Pacific market is expected to hold a significant share in the pharmacy benefit management services market. The market growth in this region can be attributed to the rise in demand for advanced healthcare management services, increasing awareness of pharmacy benefit management services, rising geriatric population, and rising investments in healthcare. Also, countries such as India and China are considering the fastest growing region due to a government focused toward adopting advanced technology to improve the healthcare sector. According to united nations data, in 2016, approximately 12.4 percent of the population in the region was 60 years or older, but this is projected to increase to more than a quarter or 1.3 billion people by 2050.


The market in the Middle East & Africa is expected to account for the smallest share of the global pharmacy benefit management services market due to an underdeveloped healthcare sector, lack of technical knowledge, and poor medical facilities.


Key Players


Some of the key players in the global pharmacy benefit management services market are Abarca health LLC., CVS Health, Express Scripts, Humana Pharmacy Solutions, Magellan Rx Management, McKesson Corporation, Medimpact Healthcare, MeridianRx, OptumRx (UnitedHealth), Prime Therapeutics, Sea Rainbow, Vidalink, and others.


Global Pharmacy Benefit Management Services Market, by Service



  • Retail pharmacy services

  • Specialty pharmacy services

  • Benefit plan design and consultation

  • Drug formulary management

  • Others


Global Pharmacy Benefit Management Services Market, by End User



  • Healthcare Providers

  • Employers

  • Drug Manufacturers

  • Others


Global Pharmacy Benefit Management Services Market, by Region



  • Americas

    • North America

      • US

      • Canada



    • Latin America





  • Europe

    • Western Europe

      • Germany

      • France

      • Italy

      • Spain

      • UK

      • Rest of Western Europe



    • Eastern Europe





  • Asia-Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Rest of Asia-Pacific





  • Middle East & Africa

    • Middle East

    • Africa




Company Profiles      



  • Abarca health LLC

  • CVS Health

  • Express Scripts

  • Humana Pharmacy Solutions

  • Magellan Rx Management

  • McKesson Corporation

  • Medimpact Healthcare

  • MeridianRx

  • OptumRx (UnitedHealth)

  • Prime Therapeutics

  • Sea Rainbow

  • Vidalink

  • Others


Intended Audience



  • Pharmacy benefit management service providers

  • Healthcare providers

  • Research institutes and academic centers

  • Contract research organizations (CROs)

  • Government associations



Report Scope:
Report Attribute/Metric Details
  Market Size   Significant Value
  CAGR   2019-2024: 5.8%
  Base Year   2019
  Forecast Period   2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Service, End-user, and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Abarca health LLC., CVS Health, Express Scripts, Humana Pharmacy Solutions, Magellan Rx Management, McKesson Corporation, Medimpact Healthcare, MeridianRx, OptumRx (UnitedHealth), Prime Therapeutics, Sea Rainbow, Vidalink
  Key Market Opportunities   Advanced technology
  Key Market Drivers   Increasing digitalization and growing healthcare industry are the key factors driving the pharmacy benefit management services market.


Frequently Asked Questions (FAQ) :


Increasing digitalization and growing healthcare industry are the key factors driving the pharmacy benefit management (PBM) services market.

The Americas is expected to dominate the pharmacy benefit management services market.

Safety of patients’ data may limit the pharmacy benefit management services market growth.

Different end users of the pharmacy benefit management services market include drug manufacturers, employers, healthcare providers, and others.

Table of Contents:

Chapter 1. Report Prologue

Chapter 2. Market Introduction

2.1. Definition

2.2. Scope of the Study

2.2.1. Research Objective

2.2.2. Assumptions

2.2.3. Limitations

Chapter 3. Research Methodology

3.1. Introduction

3.2. Primary Research

3.3. Secondary Research

3.4. Market Size Estimation

Chapter 4. Market Dynamics

4.1. Drivers

4.2. Restraints

4.3. Opportunities

4.4. Challenges

4.5. Macroeconomic Indicators

Chapter 5. Market Factor Analysis

5.1. Porter’s Five Forces Analysis

5.1.1. Bargaining Power of Suppliers

5.1.2. Bargaining Power of Buyers

5.1.3. Threat of New Entrants

5.1.4. Threat of Substitutes

5.1.5. Intensity of Rivalry

5.2. Value Chain Analysis

5.3. Investment Feasibility Analysis

Chapter 6. Global Pharmacy Benefit Management Services Market, by Service

6.1. Introduction

6.2. Retail Pharmacy Services

Market Estimates & Forecast, by Region, 2020–2027

Market Estimates & Forecast, by Country, 2020–2027

6.3. Specialty Pharmacy Services

Market Estimates & Forecast, by Region, 2020–2027

Market Estimates & Forecast, by Country, 2020–2027

6.4. Benefit Plan Design and Consultation

Market Estimates & Forecast, by Region, 2020–2027

Market Estimates & Forecast, by Country, 2020–2027

6.5. Drug Formulary Management

Market Estimates & Forecast, by Region, 2020–2027

Market Estimates & Forecast, by Country, 2020–2027

6.6. Others

Chapter 7. Global Pharmacy Benefit Management Services Market, by End User

7.1. Introduction

7.2. Healthcare Providers

Market Estimates & Forecast, by Region, 2020–2027

Market Estimates & Forecast, by Country, 2020–2027

7.3. Employers

Market Estimates & Forecast, by Region, 2020–2027

Market Estimates & Forecast, by Country, 2020–2027

7.4. Drug Manufacturers

Market Estimates & Forecast, by Region, 2020–2027

Market Estimates & Forecast, by Country, 2020–2027

7.5. Others

Chapter 8. Global Pharmacy Benefit Management Services Market, by Region

8.1. Introduction

8.2. Americas

8.2.1. North America

8.2.1.1. US

8.2.1.2. Canada

8.2.2. Latin America

8.3. Europe

8.3.1. Western Europe

8.3.1.1. Germany

8.3.1.2. France

8.3.1.3. Italy

8.3.1.4. Spain

8.3.1.5. UK

8.3.1.6. Rest of Western Europe

8.3.2. Eastern Europe

8.4. Asia-Pacific

8.4.1. Japan

8.4.2. China

8.4.3. India

8.4.4. Australia

8.4.5. South Korea

8.4.6. Rest of Asia-Pacific

8.5. Middle East & Africa

8.5.1. Middle East

8.5.2. Africa

Chapter 9. Company Landscape

9.1. Introduction

9.2. Market Share Analysis

9.3. Key Developments & Strategies

Chapter 10. Company Profiles

10.1. abarca health LLC.

10.1.1. Company Overview

10.1.2. Product Overview

10.1.3. Financial Overview

10.1.4. Key Developments

10.1.5. SWOT Analysis

10.1.6. Key Strategies

10.2. CVS Health

10.2.1. Company Overview

10.2.2. Product Overview

10.2.3. Financial Overview

10.2.4. Key Developments

10.2.5. SWOT Analysis

10.2.6. Key Strategies

10.3. Express Scripts

10.3.1. Company Overview

10.3.2. Product Overview

10.3.3. Financial Overview

10.3.4. Key Developments

10.3.5. SWOT Analysis

10.3.6. Key Strategies

10.4. Humana Pharmacy Solutions

10.4.1. Company Overview

10.4.2. Product Overview

10.4.3. Financial Overview

10.4.4. Key Developments

10.4.5. SWOT Analysis

10.4.6. Key Strategies

10.5. Magellan Rx Management

10.5.1. Company Overview

10.5.2. Product Overview

10.5.3. Financial Overview

10.5.4. Key Developments

10.5.5. SWOT Analysis

10.5.6. Key Strategies

10.6. McKesson Corporation

10.6.1. Company Overview

10.6.2. Product Overview

10.6.3. Financial Overview

10.6.4. Key Developments

10.6.5. SWOT Analysis

10.6.6. Key Strategies

10.7. Medimpact Healthcare

10.7.1. Company Overview

10.7.2. Product Overview

10.7.3. Financial Overview

10.7.4. Key Developments

10.7.5. SWOT Analysis

10.7.6. Key Strategies

10.8. MeridianRx

10.8.1. Company Overview

10.8.2. Product Overview

10.8.3. Financial Overview

10.8.4. Key Developments

10.8.5. SWOT Analysis

10.8.6. Key Strategies

10.9. OptumRx (UnitedHealth)

10.9.1. Company Overview

10.9.2. Product Overview

10.9.3. Financial Overview

10.9.4. Key Developments

10.9.5. SWOT Analysis

10.9.6. Key Strategies

10.10. Prime Therapeutics

10.10.1. Company Overview

10.10.2. Product Overview

10.10.3. Financial Overview

10.10.4. Key Developments

10.10.5. SWOT Analysis

10.10.6. Key Strategies

10.11. Sea Rainbow

10.11.1. Company Overview

10.11.2. Product Overview

10.11.3. Financial Overview

10.11.4. Key Developments

10.11.5. SWOT Analysis

10.11.6. Key Strategies

10.12. Vidalink

10.12.1. Company Overview

10.12.2. Product Overview

10.12.3. Financial Overview

10.12.4. Key Developments

10.12.5. SWOT Analysis

10.12.6. Key Strategies

10.13. Others

10.14. .

Chapter 11. MRFR Conclusion

11.1. Key Findings

11.1.1. From CEO’s Viewpoint

11.1.2. Unmet Needs of the Market

11.2. Key Companies to Watch

11.3. Predictions for the Pharmacy Benefit Management Services Industry

Chapter 12. Appendix


LIST OF TABLES

Table 1. Global Pharmacy Benefit Management Services Market Synopsis, 2020–2027

Table 2. Global Pharmacy Benefit Management Services Market Estimates and Forecast, 2020–2027 (USD Million)

Table 3. Global Pharmacy Benefit Management Services Market, by Region, 2020–2027 (USD Million)

Table 4. Global Pharmacy Benefit Management Services Market, by Service, 2020–2027 (USD Million)

Table 5. Global Pharmacy Benefit Management Services Market, by End User, 2020–2027 (USD Million)

Table 6. North America: Pharmacy Benefit Management Services Market, by Service, 2020–2027 (USD Million)

Table 7. North America: Pharmacy Benefit Management Services Market, by End User, 2020–2027 (USD Million)

Table 8. US: Pharmacy Benefit Management Services Market, by Service, 2020–2027 (USD Million)

Table 9. US: Pharmacy Benefit Management Services Market, by End User, 2020–2027 (USD Million)

Table 10. Canada: Pharmacy Benefit Management Services Market, by Service, 2020–2027 (USD Million)

Table 11. Canada: Pharmacy Benefit Management Services Market, by End User, 2020–2027 (USD Million)

Table 12. Latin America: Pharmacy Benefit Management Services Market, by Service, 2020–2027 (USD Million)

Table 13. Latin America: Pharmacy Benefit Management Services Market, by End User, 2020–2027 (USD Million)

Table 14. Europe: Pharmacy Benefit Management Services Market, by Service, 2020–2027 (USD Million)

Table 15. Europe: Pharmacy Benefit Management Services Market, by End User, 2020–2027 (USD Million)

Table 16. Western Europe: Pharmacy Benefit Management Services Market, by Service, 2020–2027 (USD Million)

Table 17. Western Europe: Pharmacy Benefit Management Services Market, by End User, 2020–2027 (USD Million)

Table 18. Eastern Europe: Pharmacy Benefit Management Services Market, by Service, 2020–2027 (USD Million)

Table 19. Eastern Europe: Pharmacy Benefit Management Services Market, by End User, 2020–2027 (USD Million)

Table 20. Asia-Pacific: Pharmacy Benefit Management Services Market, by Service, 2020–2027 (USD Million)

Table 21. Asia-Pacific: Pharmacy Benefit Management Services Market, by End User, 2020–2027 (USD Million)

Table 22. Middle East & Africa: Pharmacy Benefit Management Services Market, by Service, 2020–2027 (USD Million)

Table 23. Middle East & Africa: Pharmacy Benefit Management Services Market, by End User, 2020–2027 (USD Million)

LIST OF FIGURES

Figure 1. Research Process

Figure 2. Segmentation for Global Pharmacy Benefit Management Services Market

Figure 3. Segmentation Market Dynamics for Global Pharmacy Benefit Management Services Market

Figure 4. Global Pharmacy Benefit Management Services Market Share, by Service, 2020

Figure 5. Global Pharmacy Benefit Management Services Market Share, by End User, 2020

Figure 6. Global Pharmacy Benefit Management Services Market Share, by Region, 2020

Figure 7. North America: Pharmacy Benefit Management Services Market Share, by Country, 2020

Figure 8. Europe: Pharmacy Benefit Management Services Market Share, by Country, 2020

Figure 9. Asia-Pacific: Pharmacy Benefit Management Services Market Share, by Country, 2020

Figure 10. Middle East & Africa: Pharmacy Benefit Management Services Market Share, by Country, 2020

Figure 11. Global Pharmacy Benefit Management Services Market: Company Share Analysis, 2020 (%)

Figure 12. Abarca health LLC.: Key Financials

Figure 13. Abarca health LLC.: Segmental Revenue

Figure 14. Abarca health LLC.: Geographical Revenue

Figure 15. CVS Health: Key Financials

Figure 16. CVS Health: Segmental Revenue

Figure 17. CVS Health: Geographical Revenue

Figure 18. Express Scripts: Key Financials

Figure 19. Express Scripts: Segmental Revenue

Figure 20. Express Scripts: Geographical Revenue

Figure 21. Humana Pharmacy Solutions: Key Financials

Figure 22. Humana Pharmacy Solutions: Segmental Revenue

Figure 23. Humana Pharmacy Solutions: Geographical Revenue

Figure 24. Magellan Rx Management: Key Financials

Figure 25. Magellan Rx Management: Segmental Revenue

Figure 26. Magellan Rx Management: Geographical Revenue

Figure 27. McKesson Corporation: Key Financials

Figure 28. McKesson Corporation: Segmental Revenue

Figure 29. McKesson Corporation: Geographical Revenue

Figure 30. Medimpact Healthcare: Key Financials

Figure 31. Medimpact Healthcare: Segmental Revenue

Figure 32. Medimpact Healthcare: Geographical Revenue

Figure 33. MeridianRx: Key Financials

Figure 34. MeridianRx: Segmental Revenue

Figure 35. MeridianRx: Geographical Revenue

Figure 36. OptumRx (UnitedHealth): Key Financials

Figure 37. OptumRx (UnitedHealth): Segmental Revenue

Figure 38. OptumRx (UnitedHealth): Geographical Revenue

Figure 39. Prime Therapeutics: Key Financials

Figure 40. Prime Therapeutics: Segmental Revenue

Figure 41. Prime Therapeutics: Geographical Revenue

Figure 42. Sea Rainbow: Key Financials

Figure 43. Sea Rainbow: Segmental Revenue

Figure 44. Sea Rainbow: Geographical Revenue

Figure 45. Vidalink: Key Financials

Figure 46. Vidalink: Segmental Revenue

Figure 47. Vidalink: Geographical Revenue



This table of content is tentative and subject to change as the research progresses.

Please Note:  Financial details of company cannot be provided if the information of the company is not available in public domain and or reliable source.