Blockchain in Pharma Supply Chain Market Overview

The report titled “Blockchain in Pharma Supply Chain Market – Size, Share, Growth, Opportunities, and Competitive Analysis, 2022 – 2028” offers strategic visions into the global Blockchain in Pharma Supply Chain market along with the market size (Volume in ‘Mn Units” and value in “US$ Mn”) for the historical period 2017 to 2021 and estimates for the forecast period 2022 to 2028. This study covers an in-depth analysis of multiple market segments based on Offering, Organization Size, Provider, Application, End User across five different regions covering 20+ countries. 

Key insights associated with forecast factors for the market during the forecast period 2022-2028 have also been covered. The report also provides the impact of COVID-19 on the global and regional Blockchain in Pharma Supply Chain market in the short, medium, and longer-term for conservative, likely, and optimistic scenarios respectively. 

Blockchain in Pharma Supply Chain Market Dynamics:

Globally, governments have passed laws requiring unit-level unique product identification, verification, or even full track and trace in some markets to combat medicine counterfeiting. While all supply chain participants are included in the track and trace process, specific participants are tasked with performing the verification depending on local regulations.

By November 2019, US medication wholesalers must confirm prescription drug returns from clients, including pharmacies and hospitals for resale. The US Drug Supply Chain Security Act (DSCSA) stipulates that "Saleable Returns Verification" must be completed by November 2019 using pack ID (consisting of GTIN, batch, expiration date, and serial number). This program will safeguard returned pharmaceuticals and is believed to be worth USD 7 billion annually in the US alone.

A solution must be created that will fulfill the DSCSA's future requirements, which call for a "fully interoperable system to facilitate tracking and tracing along the whole supply chain" by 2023. This entails handling daily verification transactions over 100,000 and recording over 1.5 billion product packs annually without performance deterioration. The suggested solution should also reduce the variety of counterparties and integrations that each wholesaler and pharmaceutical business must engage with.

Segmental Analysis

How does small and medium enterprises drive Blockchain in Pharma Supply Chain Market?

While most people associate blockchain with big businesses, it also presents the new potential for SMEs across all industries to address current problems, improve operations, and create new business models. The adoption of blockchain and other distributed ledger technologies by SMEs was slowed down until recently due to several challenges. However, that is altering.

SMEs favor cloud-based networking solutions over on-premises networking investments because they are more adaptable and less expensive. The adoption of the blockchain supply chain is anticipated to rise by SMEs using the pay-as-you-go approach to adapt the IT infrastructure to their needs. The expansion of the blockchain supply chain market in SMEs is anticipated to be fueled by the demand for effective customer data protection, cost-cutting, and competitive advantage.

Why inventory control as an application is seen as an attractive segment?

All healthcare industry sectors must strive to provide excellent service for medical supplies and implement efficient inventory management procedures. Patients may suffer a great deal as a result of medicine shortages and poor drug use. Since they haven't addressed how drugs are handled, supplied, and used to save lives and enhance health, many health systems and hospitals have trouble reaching these goals.

When inventory is managed improperly, the likelihood of running out of goods and overstocking. Making inventory selections and maximizing the quality use of limited resources requires the classification of pharmaceuticals based on their criticality, cost burden, and combination of both.

Regional Analysis 

North America is dominating the global Blockchain in the Pharma Supply Chain market as it holds the lion’s share, backed by the fact that most blockchain technology-providing companies are in North America. As a result, the White House, the U.S. Department of Health and Human Services (HHS) Office of the Assistant Secretary for Preparedness and Response (ASPR), and the U.S. Food and Drug Administration (FDA) released a series of policy recommendations on June 8, 2021, to address the vulnerabilities in U.S. pharmaceutical supply chains. Led by FDA and ASPR, the White House report - PDF and its recommendations have been accepted by President Biden.

The report reveals the pharmaceutical supply chain as complex, global, and highly influenced by market factors that have led to an increasing reliance on foreign countries to manufacture the medicines, active pharmaceutical ingredients (APIs), and key starting materials (KSMs) that serve the American public.

Competitive Landscape

Built on IBM Blockchain Transparent Supply, the freely regulated network will prioritize end-to-end traceability and offer an audit trail for environmental condition monitoring. In addition, Sonoco wants to provide a permission platform for the industry as the network convener, ultimately increasing visibility and transparency throughout the pharmaceutical supply chain.

The global Blockchain in the Pharma Supply Chain market has a moderately consolidated competitive landscape, with the top companies accounting for the majority of revenue. Some of the key players in the global Blockchain in Pharma Supply Chain market include IBM, Infosys, Microsoft, SAP SE, Oracle, Tibco Software, Auxesis Group, LeewayHertz., Amazon Web Services, Inc., Guardtime, and Others.

COVID-19 Impact Analysis

The Covid-19 vaccine rollout was one supply chain now receiving much attention. With over 35 million people already had their first COVID-19 immunization and over 18 million have received their second, the UK program was well started. The vaccines were then being provided at 267 hospitals, 1,034 neighborhood vaccination sites, 90 vaccination clinics, and 194 neighborhood pharmacies, according to a news statement issued by the UK government on February 13, 2021.

It was even more critical to ensure that the rollout was precisely monitored and effectively and securely delivered because a rollout of this magnitude and speed was unprecedented. The COVID-19 vaccines had additional issues (on top of those involved with the supply of any medication or vaccine). Some needed to be kept permanently at specific temperatures to be effective, and this temperature had to be maintained during production, distribution, transportation, and at hospitals and vaccination facilities.The vaccination, once administered, was not interchangeable; therefore, a patient's successive dose had to be the same as their first, which added further complexity that required meticulous monitoring and coordination from suppliers and medical specialists. These kinds of challenges called for the adoption of blockchain in pharmaceutical supply chain management.

Key Questions Answered 

1. What is the current (2022E) estimated market size of the Global Blockchain in Pharma Supply Chain Market?
1. The global Blockchain in Pharma Supply Chain market is expected to be valued at US$ 0.49 Bn by the end of 2022
2. Which are the prominent drivers impacting Blockchain in Pharma Supply Chain market growth?
1. Some of the factors impacting the global Blockchain in Pharma Supply Chain market during the forecast period 2022-2028 are as follows:

                                          i.    Growing IT & Telecommunication Industry

                                         ii.    Commercialization of Next Generation Network (NGN)

                                        iii.    Technological innovations

3.    The aforementioned factors facilitate numerous growth opportunities for the global Blockchain in Pharma Supply Chain market which is poised to expand at a CAGR of more than 52% between 2022 and 2028.  

4. Which region is expected to dominate the Blockchain in Pharma Supply Chain market by 2028 end?
1. North America region is expected to continue its dominance during the forecast period 2022-2028

Key Segments of Blockchain in Pharma Supply Chain Market

• Offering
• Software
• Service
• Managed
• Professional

• Organization Size
• Small
• Medium
• Large

• Provider
• Application Providers
• Middleware Providers
• Infrastructure Providers

• Application
• Asset Tracking
• Counterfeit Detection
• Risk and Compliance
• Inventory Control
• Others

• End User
• Manufacturers
• Distributors
• Healthcare Providers

·         Region

·         North America

·         Europe

·         Asia Pacific

·         South America

·         MEA

 

  Report Attribute/Metric

 Details

 

    Market Size

2028: ~ USD 6 Billion

 

    CAGR

~ 52% (2021-2028)

 

    Base Year

2021

 

    Forecast Period

2022 – 2028

 

    Historical Data

2017 to 2021

 

    Forecast Unit

Value (US$ Mn) and Volume (Mn Units)

 

    Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors and Trends

 

    Segments Covered

Offering, Organization Size, Provider, Application and End User

 

    Geographies Covered

North America, Europe, Asia-Pacific, South America, and Middle East & Africa

 

Key Players Analyzed

IBM, Infosys, Microsoft, SAP SE, Oracle, Tibco Software, Auxesis Group, LeewayHertz., Amazon Web Services, Inc., Guardtime.

 

    Key Market Opportunities

• Fast digitalizing world

    Key Market Drivers

• Growing IT & Telecommunication Industry
• Commercialization of Next Generation Network (NGN)
• Technological innovations

1.      Executive Summary

1.1.    Global Market Outlook

1.2.    Demand Side Trends

1.3.    Supply Side Trends

1.4.    Recommendation and Analysis

2.      Market Overview

2.1.    Market Taxonomy

2.2.    Market Definition & Scope

3.      Market Background and Foundation Data Points

3.1.             Global IT & Telecommunication Industry Outlook

3.2.             Recent Developments in Blockchain in Pharma Supply Chain Market Segment

3.3.             Regulatory Policies and Landscape

3.4.             Market White Space Assessment and Opportunity Analysis

3.5.             Key Market Trend Analysis

3.5.1.  By Offering

3.5.2.  By Organization Size

3.5.3.  By Provider

3.5.4.  By Application

3.5.5.  By End User

3.6.             Development Patterns in Blockchain in Pharma Supply Chain Market

3.7.             Competitive Scenario and Trends

3.7.1.  Market Concentration Rate, by Region

3.7.2.  List of Emerging, Prominent and Leading Players 

3.7.3.  Mergers & Acquisitions

3.8.             Scenario Forecast for Demand

3.8.1.  Optimistic Scenario

3.8.2.  Likely Scenario

3.8.3.  Conservative Scenario

3.9.             Macro-Economic Factors

3.10.         Market Dynamics

3.10.1.         Market Driving Factors and Impact Assessment

3.10.2.         Prominent Market Challenges and Impact Assessment

3.10.3.         Market Opportunities

3.10.4.         Challenges in Blockchain in Pharma Supply Chain

3.11.                     COVID-19 Impact on Market Value

3.11.1.         Value Depreciation in 2021

3.11.2.         Quarter-On-Quarter Impact and Recovery Assessment

3.12.                     Expected Demand Volume (Mn Units) and Value (US$ Mn) Recovery Curve

3.12.1.         Likelihood of V-Shape Recovery

3.12.2.         Likelihood of U-Shape Recovery

3.12.3.         Likelihood of L-Shape Recovery

4.      Global Blockchain in Pharma Supply Chain Market - Pricing Analysis

4.1.    Regional Pricing Analysis by Organization Size

4.2.    Pricing Break-up

4.3.    Global Average Pricing Analysis Benchmark

5.      Global Blockchain in Pharma Supply Chain Market Demand (in Value or Size in US$ Mn) Analysis 2017-2021 and Forecast, 2022-2028

5.1.    Historical Market Volume (Mn Units) and Value (US$ Mn) Analysis, 2017-2021

5.2.    Current and Future Market Volume (Mn Units) and Value (US$ Mn) Projections, 2022-2028

5.2.1.  Y-o-Y Growth Trend Analysis

5.2.2.  Absolute $ Opportunity Analysis

6.      Global Blockchain in Pharma Supply Chain Market Analysis 2017-2021 and Forecast 2022-2028, By Offering

6.1.    Introduction / Key Findings

6.2.    Historical Market Volume (Mn Units) and Value (US$ Mn) Analysis by Offering, 2017-2021

6.3.    Current and Future Market Volume (Mn Units) and Value (US$ Mn) Analysis and Forecast by Offering, 2022-2028

6.3.1.  Software

6.3.2.  Service

6.3.2.1.    Managed

6.3.2.2.    Professional

6.4.    Market Attractiveness Analysis by Offering

7.      Global Blockchain in Pharma Supply Chain Market Analysis 2017-2021 and Forecast 2022-2028, By Organization Size

7.1.    Introduction / Key Findings

7.2.    Historical Market Volume (Mn Units) and Value (US$ Mn) Analysis by Organization Size, 2017-2021

7.3.    Current and Future Market Volume (Mn Units) and Value (US$ Mn) Analysis and Forecast by Organization Size, 2022-2028

7.3.1.  Small

7.3.2.  Medium

7.3.3.  Large

7.4.    Market Attractiveness Analysis by Organization Size

8.      Global Blockchain in Pharma Supply Chain Market Analysis 2017-2021 and Forecast 2022-2028, By Provider

8.1.    Introduction / Key Findings

8.2.    Historical Market Volume (Mn Units) and Value (US$ Mn) Analysis by Provider, 2017-2021

8.3.    Current and Future Market Volume (Mn Units) and Value (US$ Mn) Analysis and Forecast by Provider, 2022-2028

8.3.1.  Application Providers

8.3.2.  Middleware Providers

8.3.3.  Infrastructure Providers

8.4.    Market Attractiveness Analysis by Provider

9.      Global Blockchain in Pharma Supply Chain Market Analysis 2017-2021 and Forecast 2022-2028, By Application

9.1.    Introduction / Key Findings

9.2.    Historical Market Volume (Mn Units) and Value (US$ Mn) Analysis by Application, 2017-2021

9.3.    Current and Future Market Volume (Mn Units) and Value (US$ Mn) Analysis and Forecast by Application, 2022-2028

9.3.1.  Asset Tracking

9.3.2.  Counterfeit Detection

9.3.3.  Risk and Compliance

9.3.4.  Inventory Control

9.3.5.  Others

9.4.    Market Attractiveness Analysis by Application

10.  Global Blockchain in Pharma Supply Chain Market Analysis 2017-2021 and Forecast 2022-2028, By End User

10.1.                     Introduction / Key Findings

10.2.                     Historical Market Volume (Mn Units) and Value (US$ Mn) Analysis by End User, 2017-2021

10.3.                     Current and Future Market Volume (Mn Units) and Value (US$ Mn) Analysis and Forecast by End User, 2022-2028

10.3.1.         Manufacturers

10.3.2.         Distributors

10.3.3.         Healthcare Providers

10.4.                     Market Attractiveness Analysis by End User

11.  Global Blockchain in Pharma Supply Chain Market Analysis 2017-2021 and Forecast 2022-2028, By Region

11.1.                     Introduction / Key Findings

11.2.                     Historical Market Volume (Mn Units) and Value (US$ Mn) Analysis by Region, 2017-2021

11.3.                     Current and Future Market Volume (Mn Units) and Value (US$ Mn) Analysis and Forecast by Region, 2022-2028

11.3.1.         North America

11.3.2.         Europe

11.3.3.         Asia Pacific

11.3.4.         South America

11.3.5.         Middle East and Africa (MEA)

11.4.                     Market Attractiveness Analysis by Region

12.  North America Blockchain in Pharma Supply Chain Market Analysis 2017-2021 and Forecast 2022-2028

12.1.                     Introduction / Key Findings

12.2.                     Pricing Analysis

12.3.                     Historical Market Volume (Mn Units) and Value (US$ Mn) Analysis by Region, 2017-2021

12.4.                     Current and Future Market Volume (Mn Units) and Value (US$ Mn) Analysis and Forecast by Region, 2022-2028

12.4.1.     By Country

12.4.1.1. U.S.

12.4.1.2. Canada

12.4.1.3. Mexico

12.4.2.         By Offering

12.4.3.         By Organization Size

12.4.4.         By Provider

12.4.5.         By Application

12.4.6.         By End User

12.5.                     Market Attractiveness Analysis

12.5.1.         By Country

12.5.2.         By Offering

12.5.3.         By Organization Size

12.5.4.         By Provider

12.5.5.         By Application

12.5.6.         By End User

13.  Europe Blockchain in Pharma Supply Chain Market Analysis 2017-2021 and Forecast 2022-2028

13.1.                     Introduction / Key Findings

13.2.                     Pricing Analysis

13.3.                     Historical Market Volume (Mn Units) and Value (US$ Mn) Analysis by Region, 2017-2021

13.4.                     Current and Future Market Volume (Mn Units) and Value (US$ Mn) Analysis and Forecast by Region, 2022-2028

13.4.1.     By Country

13.4.1.1. Germany

13.4.1.2. Italy

13.4.1.3. France

13.4.1.4. Spain

13.4.1.5. UK

13.4.1.6. Rest of Europe

13.4.2.         By Offering

13.4.3.         By Organization Size

13.4.4.         By Provider

13.4.5.         By Application

13.4.6.         By End User

13.5.                     Market Attractiveness Analysis

13.5.1.     By Country

13.5.2.         By Offering

13.5.3.         By Organization Size

13.5.4.         By Provider

13.5.5.         By Application

13.5.6.         By End User

14.  Asia Pacific Blockchain in Pharma Supply Chain Market Analysis 2017-2021 and Forecast 2022-2028

14.1.                     Introduction / Key Findings

14.2.                     Pricing Analysis

14.3.                     Historical Market Volume (Mn Units) and Value (US$ Mn) Analysis by Region, 2017-2021

14.4.                     Current and Future Market Volume (Mn Units) and Value (US$ Mn) Analysis and Forecast by Region, 2022-2028

14.4.1.     By Country

14.4.1.1. China

14.4.1.2. India

14.4.1.3. Japan

14.4.1.4. South Korea

14.4.1.5. Rest of Asia Pacific

14.4.2.         By Offering

14.4.3.         By Organization Size

14.4.4.         By Provider

14.4.5.         By Application

14.4.6.         By End User

14.5.                     Market Attractiveness Analysis

14.5.1.     By Country

14.5.2.         By Offering

14.5.3.         By Organization Size

14.5.4.         By Provider

14.5.5.         By Application

14.5.6.         By End User

15.  South America Blockchain in Pharma Supply Chain Market Analysis 2017-2021 and Forecast 2022-2028

15.1.                     Introduction / Key Findings

15.2.                     Pricing Analysis

15.3.                     Historical Market Volume (Mn Units) and Value (US$ Mn) Analysis by Region, 2017-2021

15.4.                     Current and Future Market Volume (Mn Units) and Value (US$ Mn) Analysis and Forecast by Region, 2022-2028

15.4.1.     By Country

15.4.1.1. Brazil

15.4.1.2. Argentina

15.4.1.3. Rest of South America

15.4.2.         By Offering

15.4.3.         By Organization Size

15.4.4.         By Provider

15.4.5.         By Application

15.4.6.         By End User

15.5.                     Market Attractiveness Analysis

15.5.1.     By Country

15.5.2.         By Offering

15.5.3.         By Organization Size

15.5.4.         By Provider

15.5.5.         By Application

15.5.6.         By End User

16.  Middle East and Africa (MEA) Blockchain in Pharma Supply Chain Market Analysis 2017-2021 and Forecast 2022-2028

16.1.                     Introduction / Key Findings

16.2.                     Pricing Analysis

16.3.                     Historical Market Volume (Mn Units) and Value (US$ Mn) Analysis by Region, 2017-2021

16.4.                     Current and Future Market Volume (Mn Units) and Value (US$ Mn) Analysis and Forecast by Region, 2022-2028

16.4.1.     By Country

16.4.1.1. GCC Countries

16.4.1.2.  South Africa

16.4.1.3.                   Rest of MEA

16.4.2.         By Offering

16.4.3.         By Organization Size

16.4.4.         By Provider

16.4.5.         By Application

16.4.6.         By End User

16.5.                     Market Attractiveness Analysis

16.5.1.     By Country

16.5.2.         By Offering

16.5.3.         By Organization Size

16.5.4.         By Provider

16.5.5.         By Application

16.5.6.         By End User

17.  Market Structure Analysis

17.1.   Market Analysis by Tier of Companies (Blockchain in Pharma Supply Chain)

17.2.   Market Concentration

17.3.   Market Dashboard

17.4.   Key Player Heat Map Analysis

18.  Competition Analysis

18.1.   Competition Benchmarking

18.2.   Competition Deep Dive

18.2.1. IBM

18.2.1.1. Overview

18.2.1.2. Product Portfolio

18.2.1.3. Regional Revenue

18.2.1.4. Segmental Revenue Breakup

18.2.1.5. Recent Development

18.2.1.6. SWOT analysis

18.2.2. Infosys

18.2.3. Microsoft

18.2.4. SAP SE

18.2.5. Oracle

18.2.6. Tibco Software

18.2.7. Auxesis Group

18.2.8. LeewayHertz.

18.2.9. Amazon Web Services

18.2.10.        Guardtime

18.2.11.        Other Key Players

19.     Appendix