Blockchain-Based Drug Traceability: An Emerging Business Model

DOI: https://doi.org/10.63345/ijrmp.org.v8.i6.1

Mohan Singh

Independent Researcher

Chandigarh, Punjab, India

Abstract

The growing complexity of global pharmaceutical supply chains has heightened the risk of counterfeit drugs entering the market, thereby endangering patient safety and undermining public trust. Blockchain technology, with its decentralized, transparent, and immutable ledger system, offers an innovative solution to ensure the traceability of drugs from manufacturing to the point of sale. This manuscript examines blockchain-based drug traceability as an emerging business model by reviewing existing literature up to 2018, presenting a detailed methodology for data analysis, and discussing key findings derived from statistical evaluation. A simulated dataset is used to conduct statistical analysis that demonstrates the potential impact of blockchain systems on supply chain transparency and efficiency. The results suggest that blockchain implementation could significantly reduce counterfeit incidences while enhancing regulatory compliance. The paper further outlines the research methodology, provides a discussion of results, and concludes with a critical reflection on the scope and limitations of blockchain technology in drug traceability. This study aims to contribute to both academic research and industry practices by offering a framework for integrating blockchain solutions into pharmaceutical supply chains and highlighting future research directions.

Keywords

Blockchain, Drug Traceability, Pharmaceutical Supply Chain, Counterfeit Drugs, Decentralized Ledger, Supply Chain Transparency, Emerging Business Models, Statistical Analysis.

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