Adopting Blockchain Technology to Improve the Pharmaceutical Supply Chain in Bangladesh: Vision, Barriers and Roadmap

Abstract

The proliferation of counterfeit and substandard pharmaceuticals has become a ticklish global issue, particularly in developing nations (like Bangladesh) where supply chain vulnerabilities are more spoken. The complicacy of the pharmaceutical supply chain involves diverse mediators such as manufacturers, wholesalers, pharmacies also distributors. It makes blind spots in drug traceability and transparency. This lack of visibility not only facilitates the percolation of counterfeit drugs but also averts effective recalls, regulatory pitfalls and post-market surveillance. Blockchain technology grants promising authorization to these challenges by proposing a safe, decentralized and transparent platform for governing pharmaceutical supply chains. This paper, we try to enquire into the installation of permissioned networks of blockchain technology in tracking the movement, production and use of pharmaceutical products from the point of manufacture to end users. By allowing authorized stakeholders to input and access real-time data, blockchain confirms the authenticity of medicines, secures regulatory compliance and improves patient safety.

Concentrating on the context of Bangladesh and illustrates comparisons with global practices, this study examines the probability and implementation mechanisms of blockchain in the pharmaceutical sector. We highlight how blockchain can secure data integrity, digital traceability, and accountability in every state of supply chain. Moreover, to enhance reliability of supply chain, the proposed model embodies post-consumption feedback, allowing for data collection on drug effectiveness and patient outcomes availing to future research and health analytics.

By placing blockchain technology into pharmaceutical operations, the industry can take a necessary step forward in combating counterfeit drug circulation, developing public health outcomes and building a more zesty and transparent medicine distribution system.