The worldwide insulin market is currently monopolized by three major companies, and high costs pose a treatment barrier for many people with diabetes. In fact, of the 100 million people living with diabetes, it is estimated that half find it difficult to get their medication. However, researchers have posed a solution. Allow other bio-similar manufacturers to enter the market.
Presently, it only costs $2.28-$3.42 to produce one vial of human insulin, and the cost of analog insulin is $3.69-$6.16 per vial. Researchers recently determined that if other companies entered the market, those prices could drop dramatically, and drug manufacturers would still turn a profit. This includes patient costs of $71 for a year’s worth of human insulin and $134 per year for analog insulin.
These findings were published in BMJ Global Health on September 25, 2018.