Evaluating the impact of blockchain-based digital identities for pharmaceutical product traceability and security in India

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Alexander, Ligi
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The global pharmaceutical industry faces persistent challenges related to falsified and counterfeit medications and supply chain vulnerabilities, particularly in regions like India. This study explores the feasibility and implications of implementing blockchain-based digital identities in the Indian pharmaceutical supply chain to enhance traceability and security. The study sets out with a comprehensive introduction, highlighting the critical importance of addressing these issues and the transformative potential of blockchain technology. The research objectives encompassed assessing stakeholders' awareness, perceptions, and attitudes towards blockchain technology, identifying challenges and vulnerabilities in the existing supply chain, and providing strategic recommendations for implementation. The research questions are designed to investigate the current state of pharmaceutical traceability and security in India, the feasibility and perceived benefits of blockchain implementation, and the regulatory and technological hurdles hindering adoption.

Methodologically, a mixed-methods approach is employed, combining surveys and interviews to gather insights from Healthcare professionals working in the Indian Pharmaceutical industry. The methodology section details the data collection process, including the survey design and participant selection criteria. The research philosophy used for quantitative analysis was pragmatism and for qualitative analysis was Interpretivism. The deductive approach was used for quantitative analysis and the inductive approach was used for qualitative analysis. For quantitative analysis self-designed online survey questionnaire comprising of 24 questions was used. For qualitative analysis, a direct interview was done which was 20-30 minutes long. The study method was cross-sectional as the time was limited for data collection and analysis. The time limit was 1 month. Findings revealed a significant level of awareness and perceived benefits of blockchain technology among participants, with a majority recognizing its potential to prevent counterfeit drugs and improve supply chain transparency. However, regulatory hurdles, technological barriers, and supply chain vulnerabilities were identified as key challenges to implementation.

The analysis delves into the implications of these findings, highlighting the need for collaborative efforts, regulatory alignment, and strategic planning to overcome obstacles and realize the full potential of blockchain technology in the pharmaceutical sector. Recommendations emphasize the importance of regulatory compliance, education, and stakeholder collaboration to facilitate successful implementation.

In conclusion, while blockchain holds promise for mitigating supply chain risks and enhancing transparency, its successful integration into the pharmaceutical sector requires concerted efforts from all stakeholders. The study provides valuable insights into the current landscape and offers actionable recommendations for future initiatives. By advocating for strategic planning and regulatory alignment, this research aims to contribute to the advancement of pharmaceutical traceability and security in India, ultimately benefiting patients, healthcare providers, and society as a whole.

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