The State of Blockchain Adoption on the Pharmaceutical Supply Chain 2017-11-30T14:43:36+00:00

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The Blockchain Research Study Like No Other in the Pharmaceutical Industry

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IEEE Standards Association (IEEE-SA) commissioned a one-of-a-kind independent research study to examine the State of Blockchain Adoption on the Pharmaceutical Supply Chain. The report offers detailed insights on unresolved financial, regulator, policy, and protocol issues while unraveling the expectations and commitments of partners when participating on a blockchain-driven pharmaceutical supply chain.

The research presents an analysis on the underlying factors in perceiving benefits and barriers to the technology, the progress towards adoption and captures the essential feedback for implementing a blockchain-driven pharmaceutical supply chain within the next 2-5 years. Differentiating the hype from reality, the study discusses blockchain technology’s most potential beneficial outcomes and barriers – such as compliance with the FDA’s DSCSA, deterring the growth of unregulated internet pharmacies, and better securing the drug supply chain.

The design of the report specifically avoided the hype of projected investments and prioritization of exploring the technology. The report instead goes directly to executives who are exploring for or in technology testing phase on their pharmaceutical supply chain operations. Having first-hand experience with the technology, these executives bring a deep level of feedback on the current state, the degree that barriers will play in progressing towards next steps, what needs to happen to achieve industry-wide adoption.

  • Introduction to the U.S. Pharmaceutical drug distribution model
  • The industry challenge as it relates to this model
  • Two main use cases for blockchain in the pharmaceutical supply chain
  • Blockchain adoption timeline and perceived beneficial outcomes and opportunities for growth
  • Commonalities and differences on perceptions of blockchain benefits and barriers by the three key trading partners: manufacturers, wholesalers, and pharmacies
  • Unravelling the correlations between financials and data ownership
  • Understanding of perceived winners and losers of the implementation
  • Insight on the potential leaders who will emerge and drive adoption across the industry
  • Conclusions and next steps for progressing adoption

The research study was conducted by a third-party, globally recognized research firm, Ipsos, during August 2017. The study respondents are qualified executives who have an understanding of blockchain and are currently employed within the industry. The respondents equally represented entities of the three key US-based trading partners – manufacturer, wholesaler, and dispensary (ie. Retail pharmacy and/or health facility).

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If you have questions about this report or any other pharma blockchain initiatives at IEEE-SA, please write to Maria Palombini at  m.palombini@ieee.org.

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