BLOCKCHAIN IN PHARMACEUTICAL SUPPLY CHAIN MANAGEMENT MARKET SIZE 2022 : TECHNOLOGICAL TRENDS AND FUTURE THREATS ANALYSIS, DEMAND BY REGIONS, GROWTH BY NEW TECHNIQUES AND OPPORTUNITIES WITH CHALLENGES TILL 2031

Kenneth Research, in its repository of market research reports, has recently added a report on Blockchain in Pharmaceutical Supply Chain Management Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Blockchain in Pharmaceutical Supply Chain Management Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $2104.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $10.0 billion from March 2020 till March 2021 whilest imports increased by $20.10 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Blockchain in Pharmaceutical Supply Chain Management Market products.

The Global Blockchain in Pharmaceutical Supply Chain Management Market is expected to register a CAGR of 22.5% during the forecast period of 2019 to 2024.A blockchain solution can make a substantive difference to the pharmaceutical supply chain. At every stage of the supply chain process, barcodes would be scanned and recorded onto a blockchain ledger system which, in sequence, records and creates an audit trail of the drug journey. Sensors can also be combined into the supply chain, with temperature or humidity being noted onto the ledger system. This is most important for drugs requiring fridge storage, such as insulin or expensive, specially manufactured medicines.

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Furthermore, through the use of blockchain, the supply chain process of the drugs can become more secure and streamlined. Every delivery can be tracked, with the delivery driver traced through biometric measures. Every checkpoint concerning the drugs supply is recorded and traced via biometric measures, 2d barcode scans, or sensor technology. As the drug is tracked from its manufacturing unit to the patient, the whole of the drug supply chain becomes seamless, precise, audited, and safe.

In 20110, the worldwide GDP stood at USD 104,1040.3 Billion as compared to the GDP of USD 100,144.5 Billion in 20110, marked a growth of 5.103% in 20110 over previous year according to the data quoted by International Monetary Fund. This is likely to impel the growth of Blockchain in Pharmaceutical Supply Chain Management Market over the period 2019-2026.

The Blockchain in Pharmaceutical Supply Chain Management Market report also focuses on the analysis on the basis of geography which includes North America (U.S. and Canada), Latin America (Mexico, Brazil, Argentina, Rest of Latin America), Europe (Germany, UK, France, Spain, Italy, NORDIC, BENELUX, Poland, Russia, Hungary, Rest of Europe), Asia Pacific (China, Japan, India, Australia, New Zealand, South Korea, Malaysia, Indonesia, Rest of Asia Pacific) and Middle East and Africa (GCC, North Africa, South Africa and Rest of Middle East and Africa).

In U.S., the GDP per capita was valued at USD 62,606 in 20110 as compared to USD 59,1095 marked in 20110, observed a growth of 4.53% in 20110 over previous year. Rise in GDP per capita has intensified the growth of this market in the country.

Segmentation

The global blockchain in pharmaceutical supply chain management is segmented on the basis of application, end user, and region.On the basis of application, the global blockchain in pharmaceutical supply chain management market is segmented into product traceability, risk and compliance management, payment & settlement, others. The market by end user is segmented into manufacturers, distributors, healthcare providers

Key Players

Some of the key players in the Global Blockchain In Pharmaceutical Supply Chain Management Market are IBM, Microsoft, SAP SE, Oracle, Tibco Software, Auxesis Group, Omnichain, Vechain Foundation, Chainvine, Applied Blockchain, AWS, Huawei, Guardtime, BTL Group, Bitfury, Digital Treasury Corporation, Blockverify, Nodalblock, Peer Ledger, and others.

Regional Market Summary

Global Blockchain in Pharmaceutical Supply Chain Management Market Share (%), by Region, 20110

Sources: United Census Bureau, Indian Brand Equity Foundation, International Journal of Women’s Health, Annual Reports, Press Release, White Paper, and Company Presentation

The global blockchain in pharmaceutical supply chain management market is segmented on the basis of regions: Americas, Europe, Asia-Pacific, and the Middle East & Asia. The Americas account for the major share of the market owing to the well-developed technology, high healthcare expenditure, and the presence of the major pharmaceutical players. Europe accounted for the second largest market, which is followed by Asia-Pacific. Well-developed healthcare infrastructure and higher healthcare funds have driven the European blockchain in pharmaceutical supply chain management market. Asia-Pacific is the fastest growing blockchain in pharmaceutical supply chain management market.

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Rapidly changing healthcare sector, and the presence of huge opportunities for the development of this market have paved the way for market growth. However, the Middle East and Africa holds the least share in the global blockchain in pharmaceutical supply chain management market. The presence of poor economies and low per capita income, especially within Africa, restrains the growth within the region. A majority of the market share within this region is estimated to be held by the Middle East due to increasing government funding in the healthcare for healthcare, and presence of developed economies like UAE, Kuwait, Dubai, and others.

Research Methodology

Market Research Future research is conducted by industry experts who offer insights into industry structure, market segmentation, assessment, Competitive Landscape (CL), penetration, as well as on emerging trends. Besides primary interviews (~ 100%) and secondary research (~ 20%), their analysis is based on their years of professional expertise in respective industries. Our analysts also predict where the market will be headed in the next five to ten years by analyzing historical trends and current market positions. Furthermore, the varying trends of segments and categories geographically presented are studied and are estimated based on the primary and secondary research.

Primary Research

Extensive primary research was conducted to gain a deeper insight into the market and industry performance. In this particular report, we have conducted primary surveys (interviews) with key level executives (VPs, CEOs, Marketing Directors, Business Development Managers, and many more) of major players who are active in the market. In addition to analyzing the current and historical trends, our analysts predict where the market is headed, over the next five to ten years.

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Secondary Research

Secondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and commercial study of the blockchain in pharmaceutical supply chain management solutions market. It was also used to obtain key information about major players, market classification, and segmentation according to industry trends, geographical markets, and developments related to the market and perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, SEC filings, journals, white papers, corporate presentations, company web sites, international organization of chemical manufacturers, some paid databases, and many others.

Market Segmentation

Global Blockchain in Pharmaceutical Supply Chain Management Market, by Application

Product Traceability

Risk and Compliance Management

Payment & Settlement

Others

Global Blockchain in Pharmaceutical Supply Chain Management Market, by End User

Manufacturers

Distributors

Healthcare Providers

Intended Audience

Healthcare Providers

Healthcare IT Companies

Medical Research Laboratories

Market Research and Consulting Service Providers

About Us
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research, are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.

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