Part 3/7:
The Monopoly and Lack of Competition in the Market
The monopolistic control of insulin production has stifled competition, resulting in a lack of affordable options. Although some generic versions have emerged, they have not yet created significant price reductions. The big three manufacturers have introduced their own generic insulin options, but prices remain prohibitively high for many who rely on it.
This oligopoly not only sustains high prices but also hampers innovation and access. The result is a healthcare landscape where life-saving medications are treated as commodities rather than essential rights.