Blockchain in the pharmaceutical sector: empirical evidence on the associated challenges and countermeasures

Abstract

The pharmaceutical sector is experiencing rapid growth in global medicine usage and spending. As the sector expands, so do risks. Blockchain technology promises significant benefits for addressing key issues in the pharmaceutical supply chains, such as enhancing traceability, preventing counterfeit drugs, and securing sensitive data. However, its adoption is not without criticism, facing challenges such as high implementation costs, regulatory uncertainties, and even skepticism about its purported benefits. This study provides the first empirical analysis of blockchain adoption challenges and countermeasures in the pharmaceutical industry. The research aims to identify key challenges and propose effective solutions to support broader implementation. A three-step methodology was employed: a systematic literature review to identify challenges, followed by a Delphi study to assess their relevance, and finally, a questionnaire collecting practical countermeasures. Seventeen major challenges and eight sets of countermeasures were identified and prioritized, with "IT security" being ranked as the most critical challenge and "Education and training" as the most effective countermeasure as it tackles more pressing challenges. The results were then analyzed using the Technology-Organization-Environment (TOE) framework and the Stakeholder Theory. The use of these complementary frameworks allowed to shed light on how different stakeholders can address the different challenges based on their roles, emphasizing the importance of their collective and collaborative efforts. This integration of theoretical frameworks provides valuable practical insights for addressing blockchain-related challenges and accelerating its adoption. Moreover, this research compares the pharmaceutical sector with other application areas, extending insights into blockchain adoption across industries.