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Insulin prices have nearly doubled from 2012 to 2016, according to a study, and the use of the drug has only increased by 3%. This is a nod to the growing number of people expressing their grievances at soaring costs. ( Peter Stanic | pixabay )
Type 1 diabetics who take insulin have to deal with the rising cost of the drug, which, according to a study, would have almost doubled from 2012 to 2016.
A patient typically spends nearly $ 2,900 on insulin in 2012, but the Health Care Cost Institute report released on Tuesday showed that the average amount had soared to just over $ 5,700 in 2016, highlighting Increasing concern over rising drug prices. These figures represent the amount paid by the patient and his health insurance card and do not include discounts, which could help reduce costs.
The increase in spending has been propelled by the rise price of insulin. It can also be badigned at the preference for more expensive types, but to a lesser extent than the heavy price tag.
Effects of rising insulin price
The study also revealed that the daily use of insulin had only increased by 3% over the same period. Due to soaring insulin prices, some families have chosen to ration drugs, others have expressed their frustration on the street and have staged protests outside the manufacturer's headquarters.
Others have chosen to reduce the use of insulin, which doctors strongly denounce. A study published last year revealed that more than 25% of participants who have has diabetes underused the vital drug due to soaring prices?
These anecdotes are consistent with the findings of researchers documenting price increases for diabeticsEthical therapies, especially insulin, in recent years, "said HCCI, referring to hordes of families who have aired their stories about the effects of the rising cost of insulin.
Insulin manufacturers
The rise in insulin prices has prompted lawmakers to seriously address the issue. There is no generic option for the drug and, to date, three major drug manufacturers, Sanofi, Novo Nordisk and Eli Lilly, are the major players in the market.
Type 1 diabetes is a life-threatening condition in which the pancreas does not produce insulin. About 1.2 million Americans have this disease.
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