PUBLISHER: Grand View Research | PRODUCT CODE: 1842278
PUBLISHER: Grand View Research | PRODUCT CODE: 1842278
The global pharmacy benefit management market size was estimated at USD 747.08 billion in 2024 and is projected to reach USD 1,726.27 billion by 2033, growing at a CAGR of 9.9% from 2025 to 2033. This growth is attributed to the growing demand for cost-containment solutions in healthcare, and the shift toward value-based care and outcomes-driven healthcare models, which have motivated providers and payers to collaborate with PBMs to improve medication adherence, optimize formularies, and ensure better therapeutic outcomes.
In addition, regulatory changes and rising healthcare spending in emerging markets contribute to market growth.
Rising Costs of Prescription Medications & Increasing Therapeutic Complexity
As pharmaceutical prices continue to rise, especially for specialty drugs and innovative therapies, healthcare providers and payers are under increasing financial pressure to control expenses without sacrificing patient care. Simultaneously, treatment regimens have grown more complex, characterized by advanced biologics, targeted therapies, and personalized medicine. This complexity requires specialized management to ensure appropriate drug selection, dosing, and patient adherence. PBMs play a vital role in tackling these challenges by utilizing their expertise in formulary design, negotiating drug prices, and employing data-driven strategies to optimize therapeutic outcomes.
PBMs' ability to navigate the complexities of modern pharmacology while reducing unnecessary costs makes them essential for improving healthcare affordability and ensuring patient access to effective treatments.
Global Pharmacy Benefit Management Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global pharmacy benefit management market report based on business model, end-use, and region.