Key Market Indicators
Sales of diabetes medication in Iceland are projected to rise to around $18 million by 2026. Since 1994, the market has grown by an average of 16% each year. In 2021, Iceland ranked 25th, with Luxembourg coming in ahead at $14.74 million. Canada, Spain and Italy were the second, third and fourth largest markets, respectively. Meanwhile, insulin imports to Iceland are expected to drop by 1.1% year on year, to around $792,000 by 2026. Since 1993, demand for insulin has fallen by an average of 1.4% each year. Lastly, insulin exports from Iceland plummeted 77.3% to $697,000 in 2018. At the time, Iceland was ranked 61st, with Peru coming in ahead at $697.2 million. France, Italy and China were the second, third and fourth largest exporters, respectively.
