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Pharmacy Benefit Management Services Companies

ID: MRFR/HC/6374-HCR
200 Pages
Vikita Thakur
Last Updated: February 16, 2025
Pharmacy Benefit Management (PBM) services play a crucial role in the healthcare industry by managing and optimizing prescription drug benefits for various stakeholders, including insurers, employers, and individuals. PBMs work to streamline the prescription drug supply chain, control costs, and enhance the quality of healthcare services.
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Pharmacy Benefit Management Services Market
Market Size
Forecast Period2025 - 2035
CAGR (2025 - 2035)6.14%
2024 Market Size$ 531.69 Billion
2025 Market Size$ 564.35 Billion
2035 Market Size$ 1,024.28 Billion
Key Players
CVS Health
Express Scripts
OptumRx
Humana
Cigna
Prime Therapeutics
Opportunities
  • Rising Prescription Drug Costs
  • Growing Demand for Specialty Drugs
  • Increased Focus on Preventive Care

Top Industry Leaders in the Pharmacy Benefit Management Services Market

Pharmacy Benefit Management Services MarketLatest Pharmacy Benefit Management Services Companies Update

Jan 2023: The Puerto Rico Health Insurance Administration (ASES) oversees managing the Medicaid program Vital, and Abarca is the pharmacy benefit manager (PBM) for that program. Abarca started its contract on May 1st this year, having been chosen in January and having completed its implementation in 10 days.

Oct 2023: With its Aetna CVS Health co-branded insurance plan, Aetna, a CVS Health subsidiary, is joining the Maryland individual insurance exchange market and giving more people in Maryland access to affordable healthcare. To help members attain their best health, Aetna CVS Health Individual and Family Plans mix the high-quality health insurance coverage of Aetnaยฎ with affordable care features offered at CVS Pharmacyยฎ locations. Members can also access Aetna's network of primary care physicians, mental health providers, specialists, and hospitals. Members who present their ID card with a savings barcode will receive 20% off CVS Health brand items at CVS. For Aetna, this ID card combines discounts from over-the-counter, pharmacy, medical, and retail sources in a novel way. Members will have access to Aetna's network of hospitals, specialists, mental health providers, and primary care physicians following the introduction of these plans. Additionally, easily accessible, reasonably priced care lowers obstacles to care.List of Pharmacy Benefit Management Services Key companies in the market
  • 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