OBJECTIVES: Pharmacoeconomic models are basically mathematical, statistical and simulation models widely used to evaluate the robust quality data readily available on the health impacts from a therapy or intervention. The Research aims to explore various Pharmacoeconomic modeling methods employed in the different countries around the world. METHODS: The data was collected entirely from the secondary research. A literature search was performed using the PUBMED, ISPOR websites in particularly the Pharmacoeconomic Guidelines and Federal Websites such as (NICE,PBAC). The collected information was checked and validated. RESULTS: The data from databases and health agencies, demonstrated that majority of the countries employed use of Markov Modeling techniques in countries such as USA, UK, Canada, European Union remarkably Australia focused more upon the QALY and cost effective analysis with also relevant use of other techniques such as decision trees and simulation models whereas Countries in Latin America and Asia Pacific do not use any modeling techniques in particular. CONCLUSIONS: The results of the study demonstrate that there is a lack of expertise or evidence to use proper modeling techniques in countries of Latin America and Asia Pacific region which may aid population based decision making.