U.S. Pharmacy Benefit Management (PBM) Market Size, Share & Growth Forecast 2024–2032
The U.S. Pharmacy Benefit Management (PBM) Market was valued at USD 432.30 billion in 2023 and is projected to reach USD 947.90 billion by 2032, growing at a CAGR of 9.13%. PBMs play a crucial role in managing drug formularies, negotiating rebates with manufacturers, and influencing medication affordability. Despite their potential to reduce costs, the industry faces criticism due to a lack of transparency and market consolidation, with just six companies controlling over 95% of prescriptions in the U.S.