Insulin trade by country: top importers, exporters and prices
World trade in insulin was worth $540.0 million in 2024, about 78 tonnes. That is a fall of 71% since 2017, and down 49% on 2023.
Public statistics, latest complete year (2024). Values in US dollars. Page updated .
World trade by year, 2017-2024
Hover or tap a year for detail.
Year by year
| Year | Value | Quantity |
|---|---|---|
| 2024 | $540.0M | 78 t |
| 2023 | $1.05B | 97 t |
| 2022 | $2.51B | 89 t |
| 2021 | $2.85B | 72 t |
| 2020 | $2.65B | 180 t |
| 2019 | $2.72B | 481 t |
| 2018 | $2.15B | 44 t |
| 2017 | $1.88B | 59 t |
Top insulin exporting countries
Denmark is the largest exporter with 45% of world exports, followed by the United States and Malaysia. The top three supply 69% between them, out of 53 exporting countries.
| Exporter | Value | Share |
|---|---|---|
| Denmark | $240.6M | 45% |
| United States | $74.0M | 14% |
| Malaysia | $60.3M | 11% |
| Portugal | $52.3M | 9.7% |
| India | $44.6M | 8.3% |
| China | $23.2M | 4.3% |
| France | $12.1M | 2.2% |
| Germany | $7.6M | 1.4% |
| Canada | $6.8M | 1.3% |
| Belgium | $3.9M | 0.7% |
| Singapore | $3.7M | 0.7% |
| Poland | $2.6M | 0.5% |
Top importing countries and buyer markets
The United States is the biggest buyer with 18% of world imports, ahead of France and Denmark. Demand is spread widely: the top three take 43% across 108 importing countries.
| Importer | Value | Share |
|---|---|---|
| United States | $96.5M | 18% |
| France | $82.6M | 15% |
| Denmark | $54.5M | 10% |
| Mexico | $40.4M | 7.5% |
| India | $37.2M | 6.9% |
| Italy | $35.9M | 6.6% |
| Brazil | $34.1M | 6.3% |
| China | $28.9M | 5.4% |
| Germany | $13.5M | 2.5% |
| Algeria | $12.2M | 2.3% |
| Pakistan | $10.9M | 2% |
| Bangladesh | $10.4M | 1.9% |
Average price per kg
The world average declared value was about $6,931.50 per kg in 2024. Among the main exporters, Portugal averaged $17,364.12 per kg and Malaysia $2,186.28 per kg, so grade and origin matter.
Declared value divided by weight, all 2024 shipments worldwide. Prices per shipment and per company are in EximDataX.
Who is behind these numbers in this market?
The shipment records behind Insulin (HS 2937.12) importers and exporters, worldwide: companies, dates, quantities and declared values.
Shipment records are in the platform
Tell us what you trade and we will show you the latest records on a live call.
Source: CEPII BACI (reconciled UN Comtrade data), HS 2017 edition, release 202601, Etalab Open Licence 2.0. Annual values in US dollars at the customs border; quantities in tonnes where reported. HS 2937.12: Polypeptide hormones, protein hormones and glycoprotein hormones, their derivatives and structural analogues: insulin and its salts. HS 2937 codes.
Common questions
Which countries export the most insulin?
Denmark exported $240.6 million in 2024, 45% of the world total, followed by the United States (14%) and Malaysia (11%). In all, 53 countries reported exports of this product. The full ranking and map are on this page.
Which countries import the most insulin?
The United States imported $96.5 million in 2024, 18% of world imports, ahead of France (15%) and Denmark (10%). The top three importers together take 43%. Each country with its own page is linked from the table.
How big is the world trade in insulin?
It was worth $540.0 million in 2024, about 78 tonnes. That is a fall of 71% since 2017. The peak year was 2021 at $2.85 billion. 53 countries reported exports and 108 reported imports.
What is the average price of insulin per kg?
The world average declared value was about $6,931.50 per kg in 2024. Among the main exporters, Portugal averaged $17,364.12 per kg and Malaysia $2,186.28 per kg, so grade and origin matter. Read it as a benchmark: it blends all grades, origins and contract terms.
What is the HS code for insulin?
The HS code for insulin is subheading 2937.12, in chapter 29 (organic chemicals). The first six digits are the same in every country; national tariffs add more. The full list of codes is on the HS 2937 page.
How can I find insulin buyers and suppliers?
EximDataX shows the importers and exporters of insulin by name, from shipment-level customs records updated weekly. Ask for a live look at the markets you sell to.
See what your buyers are buying.Then decide.
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