Authors: Yashaswini.P, Yathiraj M N
Abstract: This paper provides a comprehensive overview of blockchain technology and explores its application in developing a robust, transparent, and tamper-resistant system to combat the growing issue of counterfeit products in the pharmaceutical industry. Over the past decade, pharmaceutical companies around the world have been grappling with significant challenges in monitoring and tracking their products across the supply chain. These vulnerabilities have created opportunities for counterfeiters to infiltrate the market with fake or substandard medicines, posing serious risks to public health and causing substantial economic losses to legitimate manufacturers. Counterfeit drugs represent a critical global challenge, undermining the integrity of healthcare systems and endangering the lives of millions. These illegitimate products often contain incorrect dosages, harmful ingredients, or no active pharmaceutical ingredients at all, leading to ineffective treatment, prolonged illness, and in some cases, fatal consequences. According to industry statistics, counterfeit drugs are responsible for an estimated $200 billion in annual losses to pharmaceutical companies in the United States alone. Moreover, a World Health Organization (WHO) survey report reveals that in many underdeveloped countries, approximately one out of every ten medicines consumed by patients is counterfeit or of low quality—highlighting the urgent need for a reliable and tamper-proof solution. In response to this pressing issue, our research proposes and implements a blockchain-based drug supply chain management system that leverages the core features of blockchain technology—immutability, decentralization, transparency, and traceability. In conclusion, this research highlights the transformative potential of blockchain technology in securing pharmaceutical supply chains.
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