A Complete Guide to Insulin Cost in Canada and the USA
Statistics from the American Diabetes Association (ADA) show that 10.5% of the American population has diabetes.
For these people, insulin treatments are life-saving medications. Without insulin replacement, their condition would have horrendous consequences for their health.
Regardless of this situation, insulin cost remains very high in America. Because of this, many people choose to buy insulin online from Canadian pharmacies, as the cost of insulin in Canada is much lower.
Read on to learn about the comparison between the prices of insulin in Canada and the US. We’ll also look at whether you should make the switch to buying from an online pharmacy.
How Does Insulin Work?
Insulin is an important hormone that our body secretes. It allows us to use sugar in energy production, and keeps our blood sugar levels steady.
If you have type 1 diabetes, your pancreas’ ability to produce insulin as required is affected. If you cannot produce insulin naturally, you run the risk of becoming hyperglycemic when there is an excess of sugar in your bloodstream. This can pose health difficulties in the long run.
Type 2 diabetes is another health condition that arises from irregularities with insulin in the body. Here, the body becomes resistant to insulin, leaving the pancreas unable to produce enough to stay healthy.
A key difference between type 1 diabetes and type 2 diabetes is that the latter usually arises later in life, often in response to lifestyle factors. While the precise cause of type 2 diabetes is currently unknown, experts are confident that inactivity and excess body fat are huge risk factors.
People with either type of diabetes must take insulin treatments to ensure that they stay healthy. You usually inject insulin into the abdomen or thigh.
Why Is Insulin So Expensive in the United States?
If you’ve been a diabetic for a while, you’ll be well-acquainted with the high insulin prices in the United States. However, if your diagnosis is a relatively new one, you might be a little shocked at how much your new treatment regime is going to set you back each month.
American authorities are notoriously laissez-faire when it comes to the regulation of industry. The pharma industry is no different in this regard. Pharmaceutical companies in America do not have to obey rules in relation to maximum prices like they do in other countries.
Prescription medications are therefore more expensive in the United States than most other developed nations. This has obvious drawbacks for anyone (like a diabetic) that relies on prescription medication.
Insulin Prices in America Going Forward
Many political campaigns have aimed to regulate the industry more strictly with a view to providing cheaper medications for Americans.
However, the pharmaceutical lobby in the United States is very strong. Efforts to bring about significant change have all met with failure so far.
In the case of insulin specifically, the situation is particularly bleak. Statistics show that insulin prices are rising steadily, with the average annual cost of type 1 diabetes treatment almost doubling between 2012 and 2016.
All of this means that there has never been a worse time than now to be an American diabetic.
Why Is Insulin Cost So Much Lower in Canada?
Considering the fact that they border each other, you would be forgiven for thinking that medication prices in Canada would be similar to those in the US. However, they are far lower.
Insulin is a prescription medication, which means that a doctor must prescribe it for use before a patient can buy it. These kinds of treatments are generally far cheaper in Canada than in the United States.
This is because the Canadian government has a program in place to provide these medications to its citizens. About one million Canadians get free prescription medications by virtue of being a member of an entitled group, such as military personnel.
Because the Canadian taxpayer foots the bill for these medicines, the restrictions on what pharma companies can charge are much stricter. A review group looks at the pricing proposals put forward for new treatments, rejecting any that it feels are too expensive.
Is There Any Difference Between American Insulin & Canadian Insulin?
Many people hear these facts about Canadian pharmaceuticals prices compared to those in America and think what they’re hearing sounds too good to be true. They feel that, because of the massive price difference, Canadian drugs must be inferior in some way.
In terms of their medical effectiveness, this simply is not the case. Canadian insulin will keep your diabetes in check in exactly the same way as American insulin.
There may, however, be some differences in terms of packaging. Each country has its own rules and regulations when it comes to the way in which medicine must be stored and distributed. This means that medicine containers and packages from Canadian pharmacies are different than those from American stores.
Keeping Your Medical Bills Down in 2020
If you have diabetes, you’ll already know all about insulin cost. When you need it to survive every day, the price of the treatment can take a huge chunk out of your income.
You may not have thought there was an alternative to this enormous spend. However, if you choose to buy your insulin online from us, you’ll notice the savings right away.
To learn more about the insulin treatments we stock, or about any of our other products, contact us today.
1. American Diabetes Association – “Statistics About Diabetes.”
2. EndocrineWeb – “What is Insulin?”
3. Investopedia – “Laissez-Faire.”
4. Reuters – “U.S. insulin costs per patient nearly doubled from 2012 to 2016: study.”
5. 90 Day Meds – “Why Are Prescription Drugs Cheaper in Canada?”
6. Government of Canada – “Federal Public Drug Benefit Programs.”
7. 90 Day Meds – “Contact Us.”