Machine learning in the pharma industry is set to rise to $26.2B, with a CAGR of 37.9 per cent until 2031, streamlining drug discovery through data analysis.
The pharmaceutical industry leverages blockchain technology for optimizing the supply chain processes, improving operational efficiency, and boosting profits.
Pharmaceutical supply chain undergoes significant challenges due to pandemics, conflicts, and escalating costs, compelling the industry to embrace new trends.
Global pharmaceutical companies face scrutiny for issues including inconsistent drug availability, necessitating digitalization and supply chain traceability.
Despite its potential to combat a $200B counterfeit market, the integration of blockchain technology in the pharmaceutical supply chain remains incomplete.
Quality issues and contamination in COVID-19 vaccine production due to fragmented communication and its consequences caused global supply chain disruptions.
