Blockchain technology in drug traceability

Abstract

Currently, Drug Counterfeiting is biggest challenge pharma industry is encountering as high market demand of the drugs and due to high profit margin. The lack of data transparency and lack of traceability also lured black market for the counterfeiting which impact Pharma organization and putting the life of the patient in danger. Through the Drug Supply chain substantial portion of the counterfeit drug are getting injected and distributed through healthcare supply chain network, so supply chain is playing vital role in the drug distribution and impact the patient life. Through digitalization in the healthcare sector, Blockchain technology give platform with groundbreaking results via providing the system for the drug traceability with consideration of the critical requirement of transparency, privacy, authenticity with involving any third party. In Blockchain technology, each distribution partner registered to maintain transparency with the drug information. Real time transfer the information about the change of ownership with date and time in forms of blocks giving the visibility to all the partners real time with authenticity of drugs. This article will give the information about the use of the block chain technology benefit to the pharmaceuticals industry and traceability and trackability information of drugs from end-to-end of the pharmaceutical supply chain.