Just How Much Does America Pay For Medicinal Drugs?

November 8th 2015

Diana Crandall

How much do you spend on prescription drugs? Compared to what people spend outside of the U.S., the answer is too much.

According to a recent report from the Organization for Economic Co-operation and Development (OECD), Americans spent $1,026 per capita on prescription drugs in 2013.  No other country was even close to $1,000 — the next country was Japan at $752.

Which countries pay the most for prescription drugs?

The report also says that one in every five “health” dollars is actually spent on pharmaceuticals in OECD countries. Reuters reported on Nov. 4 that as a result, 20 percent of all health spending in these countries goes to medicinal drugs.

ALSO: Martin Shkreli's Tinder Conversation About AIDS Drug

Overall, Forbes reported that spending has slowed in recent years, but OECD nations still spent a whopping $800 billion dollars on medicinal drugs in 2013. As ATTN: has previously reported, the cost of healthcare in America is astronomically high. The OECD's latest figures illustrate that pharmaceutical companies have significant control over pricing in the drug market.

ALSO: After Martin Shkreli Promises Decrease, Daraprim Price Still Up 5000%