Introduction
Insulin is a naturally occurring hormone within the body; it is made by the pancreas and is designed to absorb glucose from the bloodstream and regulate sugar levels within the body. However, diabetes prevents the production and utilization of insulin within the body, which leaves sugar levels unregulated. Diabetes can occur through poor dietary habits or through previous genetic disposition, and currently affects 10% of the global population. Diabetes makes taking insulin shots a necessity for continued survival, thereby making the latter a valuable medical commodity.
Each country has different prices at which they sell insulin shots to those who need them. These costs may get subsidized through a health insurance scheme or government program, but more often than not the patient has to pay for them out of pocket. The U.S. is the country with the highest prices, with insulin shots often costing 4 times as much as in any other country.
Insulin Prices Around the World
| # | Country | Insulin Prices | Diabetes Rate | Health Score | Care System Score |
|---|---|---|---|---|---|
| 1 | United States of America | $98.7 | 10.7% | 73.9 | 72.7 |
| 2 | Chile | $21.48 | 10.8% | 75.7 | 64.9 |
| 3 | Mexico | $16.48 | 16.9% | 72.7 | 56.5 |
| 4 | Japan | $14.4 | 6.6% | 86.6 | 83.2 |
| 5 | Switzerland | $12.36 | 4.6% | 81.5 | 82.4 |
| 6 | Canada | $12 | 7.7% | 78.4 | 71.3 |
| 7 | Germany | $11 | 6.9% | 81.1 | 81.1 |
| 8 | South Korea | $10.3 | 6.8% | 84.1 | 75.1 |
| 9 | Luxembourg | $10.15 | 5.9% | 81.5 | 77.6 |
| 10 | Italy | $10.03 | 6.4% | 81.1 | 74.5 |
| 11 | Netherlands | $9.98 | 4.5% | 82.2 | 77.3 |
| 12 | Ireland | $9.85 | 3% | 79.5 | 77.1 |
| 13 | Estonia | $9.61 | 6.5% | 77.3 | 72.2 |
| 14 | France | $9.08 | 5.3% | 80.5 | 80.4 |
| 15 | Spain | $9.04 | 10.3% | 80.5 | 72.6 |
| 16 | Finland | $8.94 | 6.1% | 81.4 | 80.9 |
| 17 | New Zealand | $8.89 | 6.2% | 79.7 | 73.4 |
| 18 | Greece | $8.65 | 6.4% | 76.8 | 64.9 |
| 19 | Latvia | $8.39 | 5.9% | 73.8 | 68.5 |
| 20 | Belgium | $8.3 | 3.6% | 80.6 | 83.8 |
| 21 | Czech Republic | $8.18 | 7.1% | 79 | 76.8 |
| 22 | Portugal | $8.03 | 9.1% | 77.6 | 67.8 |
| 23 | Austria | $7.92 | 4.6% | 79.6 | 77.1 |
| 24 | Lithuania | $7.89 | 5.8% | 74.1 | 68.2 |
| 25 | Norway | $7.79 | 3.6% | 84 | 82.2 |
| 26 | Sweden | $7.71 | 5% | 82.1 | 83.1 |
| 27 | United Kingdom | $7.52 | 6.3% | 78.8 | 77.7 |
| 28 | Slovenia | $7.43 | 5.8% | 80.2 | 74.4 |
| 29 | Australia | $6.94 | 6.4% | 80.2 | 75.2 |
| 30 | Slovakia | $6.91 | 5.8% | 77 | 65.8 |
| 31 | Hungary | $6.14 | 7% | 76.3 | 69.4 |
| 32 | Poland | $5.28 | 6.8% | 75.2 | 58.4 |
| 33 | Turkey | $2.64 | 14.5% | 75.1 | 53.8 |
Cost of Insulin by Country
Australia
Insulin Prices
$6.94
Ranked in the World
#29
6.4%
Ranked in the World
#127
80.2
Ranked in the World
#22
Ranked in the World
#21
Austria
Insulin Prices
$7.92
Ranked in the World
#23
4.6%
Ranked in the World
#174
79.6
Ranked in the World
#25
Ranked in the World
#16
Belgium
Insulin Prices
$8.3
Ranked in the World
#20
3.6%
Ranked in the World
#185
80.6
Ranked in the World
#18
Ranked in the World
#1
Canada
Insulin Prices
$12
Ranked in the World
#6
7.7%
Ranked in the World
#96
78.4
Ranked in the World
#33
Ranked in the World
#35
In Canada, the average cost of insulin is $12 per unit. While it is more affordable than in the United States, the prices can still create financial strain for individuals who need to purchase insulin regularly. Efforts to address affordability and accessibility issues are ongoing in the country.
Chile
Insulin Prices
$21.48
Ranked in the World
#2
10.8%
Ranked in the World
#52
75.7
Ranked in the World
#53
Ranked in the World
#49
Insulin prices in Chile are considerably lower than those in the United States but still relatively high compared to many other countries. On average, insulin in Chile costs $21.48 per unit. While it is more affordable than in the United States, the prices can still pose challenges for individuals who rely on insulin to manage their diabetes.
Czech Republic
Insulin Prices
$8.18
Ranked in the World
#21
7.1%
Ranked in the World
#105
Ranked in the World
#30
Ranked in the World
#18
Estonia
Insulin Prices
$9.61
Ranked in the World
#13
6.5%
Ranked in the World
#122
77.3
Ranked in the World
#40
Ranked in the World
#33
Finland
Insulin Prices
$8.94
Ranked in the World
#16
6.1%
Ranked in the World
#136
81.4
Ranked in the World
#14
Ranked in the World
#8
France
Insulin Prices
$9.08
Ranked in the World
#14
5.3%
Ranked in the World
#165
80.5
Ranked in the World
#20
Ranked in the World
#9
Germany
Insulin Prices
$11
Ranked in the World
#7
6.9%
Ranked in the World
#110
81.1
Ranked in the World
#16
Ranked in the World
#6
Germany offers insulin at an average cost of $11 per unit. Although the prices are lower than in the United States, there is still a need to address the financial burden of insulin for individuals living with diabetes. Collaborative efforts between stakeholders aim to ensure accessibility and affordability.
Greece
Insulin Prices
$8.65
Ranked in the World
#18
6.4%
Ranked in the World
#128
76.8
Ranked in the World
#46
Ranked in the World
#50
Hungary
Insulin Prices
$6.14
Ranked in the World
#31
Ranked in the World
#108
76.3
Ranked in the World
#50
Ranked in the World
#36
Ireland
Insulin Prices
$9.85
Ranked in the World
#12
Ranked in the World
#190
79.5
Ranked in the World
#26
Ranked in the World
#17
Italy
Insulin Prices
$10.03
Ranked in the World
#10
6.4%
Ranked in the World
#129
81.1
Ranked in the World
#17
Ranked in the World
#24
Italy provides insulin at an average cost of $10.03 per unit. While it is relatively more affordable compared to the United States, the prices can still pose challenges for individuals, particularly those who require larger doses or have limited financial resources.
Japan
Insulin Prices
$14.4
Ranked in the World
#4
6.6%
Ranked in the World
#116
86.6
Ranked in the World
#1
Ranked in the World
#2
Japan has a relatively high cost of insulin compared to some other countries. The average price of insulin in Japan is $14.40 per unit. While the prices are lower than those in the United States, they still present challenges for individuals who require insulin to maintain their health and well-being.
Latvia
Insulin Prices
$8.39
Ranked in the World
#19
5.9%
Ranked in the World
#140
73.8
Ranked in the World
#72
Ranked in the World
#37
Lithuania
Insulin Prices
$7.89
Ranked in the World
#24
5.8%
Ranked in the World
#145
74.1
Ranked in the World
#66
Ranked in the World
#38
Luxembourg
Insulin Prices
$10.15
Ranked in the World
#9
5.9%
Ranked in the World
#141
81.5
Ranked in the World
#12
Ranked in the World
#14
Insulin prices in South Korea stand at an average of $10.30 per unit. While the cost is lower compared to some other countries, it remains a significant expense for individuals relying on insulin.
Mexico
Insulin Prices
$16.48
Ranked in the World
#3
16.9%
Ranked in the World
#17
72.7
Ranked in the World
#80
Ranked in the World
#77
Mexico follows closely behind Chile in terms of insulin prices. The average cost of insulin in Mexico is $16.48 per unit. Although it is more affordable than in the United States, the prices can still place a burden on individuals, particularly those who require higher doses or struggle with financial constraints.
Netherlands
Insulin Prices
$9.98
Ranked in the World
#11
4.5%
Ranked in the World
#180
82.2
Ranked in the World
#9
Ranked in the World
#15
New Zealand
Insulin Prices
$8.89
Ranked in the World
#17
6.2%
Ranked in the World
#135
79.7
Ranked in the World
#24
Ranked in the World
#29
Norway
Insulin Prices
$7.79
Ranked in the World
#25
3.6%
Ranked in the World
#187
Ranked in the World
#4
Ranked in the World
#5
Poland
Insulin Prices
$5.28
Ranked in the World
#32
6.8%
Ranked in the World
#112
75.2
Ranked in the World
#57
Ranked in the World
#69
Portugal
Insulin Prices
$8.03
Ranked in the World
#22
9.1%
Ranked in the World
#74
77.6
Ranked in the World
#38
Ranked in the World
#40
Slovakia
Insulin Prices
$6.91
Ranked in the World
#30
5.8%
Ranked in the World
#146
Ranked in the World
#44
Ranked in the World
#43
Slovenia
Insulin Prices
$7.43
Ranked in the World
#28
5.8%
Ranked in the World
#147
80.2
Ranked in the World
#23
Ranked in the World
#25
South Korea
Insulin Prices
$10.3
Ranked in the World
#8
6.8%
Ranked in the World
#113
84.1
Ranked in the World
#3
Ranked in the World
#22
Insulin prices in South Korea stand at an average of $10.30 per unit. While the cost is lower compared to some other countries, it remains a significant expense for individuals relying on insulin.
Spain
Insulin Prices
$9.04
Ranked in the World
#15
10.3%
Ranked in the World
#60
80.5
Ranked in the World
#21
Ranked in the World
#31
Sweden
Insulin Prices
$7.71
Ranked in the World
#26
Ranked in the World
#170
82.1
Ranked in the World
#10
Ranked in the World
#3
Switzerland
Insulin Prices
$12.36
Ranked in the World
#5
4.6%
Ranked in the World
#178
81.5
Ranked in the World
#13
Ranked in the World
#4
Switzerland, known for its high cost of living, also reflects higher insulin prices. The average cost of insulin in Switzerland is $12.36 per unit. Despite the high prices, they are still significantly lower than those in the United States, underscoring the importance of comparing costs across different countries.
Turkey
Insulin Prices
$2.64
Ranked in the World
#33
14.5%
Ranked in the World
#26
75.1
Ranked in the World
#58
Ranked in the World
#86
United Kingdom
Insulin Prices
$7.52
Ranked in the World
#27
6.3%
Ranked in the World
#132
78.8
Ranked in the World
#31
Ranked in the World
#12
United States of America
Insulin Prices
$98.7
Ranked in the World
#1
10.7%
Ranked in the World
#55
73.9
Ranked in the World
#69
Ranked in the World
#30
The United States has the highest cost of insulin among all the countries, the cost of insulin in the US reaching an average of $98.70 per unit. This has been a subject of concern and debate, as the high cost creates significant financial burdens for individuals with diabetes, leading to issues of affordability and accessibility.
FAQs
How much does insulin cost ?
The cost of insulin can vary significantly depending on factors such as the country, brand, type of insulin, dosage, and healthcare system. Additionally, these prices reflect the cost of insulin without insurance or any applicable discounts.
In the United States, insulin prices can range from around $25 to $500 per vial or pack, depending on the brand and type of insulin.
In countries with government-regulated healthcare systems, such as Canada, the United Kingdom, and many European nations, the cost of insulin is generally lower compared to the United States. Prices in these countries can range from approximately $10 to $100 per vial or pack.
In some low-income countries or regions, insulin may be available at reduced prices through governmental or non-profit programs, with prices ranging from a few dollars to around $25 per vial or pack.
Why is insulin so expensive ?
The high cost of insulin can be attributed to several factors, including research and development expenses, patent protection, limited generic competition, supply chain complexities, and insurance and pharmacy benefit designs. Pharmaceutical companies invest heavily in research and development, which contributes to the pricing of insulin. Patents provide exclusive rights and allow manufacturers to set higher prices. The lack of generic alternatives and specialized manufacturing processes increase production and distribution costs. Additionally, insurance plans and pharmacy benefit structures can result in higher out-of-pocket costs for consumers.
How much does insulin cost to make ?
Determining the exact cost of manufacturing insulin is challenging due to various factors, including proprietary information, different manufacturing processes, and variations between insulin formulations. Additionally, insulin production involves complex steps, including fermentation, purification, and formulation, which incur costs at each stage.
While specific cost breakdowns are not publicly available, research suggests that the manufacturing cost of a vial of insulin can range from a few dollars to around $10. However, it is important to note that these estimates may not include other expenses, such as research and development costs, distribution, marketing, regulatory compliance, and overhead.
The pricing of insulin products takes into account not only the manufacturing costs but also additional factors such as research investments, patent protection, distribution costs, regulatory requirements, and profit margins for pharmaceutical companies.
Understanding the precise manufacturing costs of insulin requires access to detailed financial information from insulin manufacturers, which is typically not publicly disclosed.
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