Convergence of AI, blockchain and pharmacoeconomics in building adaptive pharmaceutical supply chains: A novel paradigm shift for equitable global drug access
1 Boehringer Ingelheim, Nigeria.
2 Vanderbilt University, USA.
3 Kaybat Pharmacy and Stores, Benin, Nigeria.
Review
International Journal of Scientific Research Updates, 2022, 04(01), 356-374.
Article DOI: 10.53430/ijsru.2022.4.1.0142
Publication history:
Received on 16 August 2022; revised on 22 September 2022; accepted on 25 September 2022
Abstract:
The convergence of Artificial Intelligence (AI), blockchain technology, and pharmacoeconomics presents a transformative opportunity to revolutionize pharmaceutical supply chains, fostering equitable global drug access. Traditional supply chains are often plagued by inefficiencies, including limited transparency, suboptimal resource allocation, and susceptibility to counterfeit drugs, which exacerbate disparities in drug availability. This paper explores a novel paradigm where AI-driven analytics, blockchain's immutable ledgers, and pharmacoeconomic principles synergize to create adaptive pharmaceutical supply chains tailored to global needs. AI facilitates predictive analytics for demand forecasting, inventory optimization, and real-time decision-making, reducing wastage and ensuring timely drug delivery. Blockchain enhances transparency and traceability across the supply chain, ensuring the authenticity of pharmaceutical products and fostering stakeholder trust. Concurrently, pharmacoeconomics evaluates the cost-effectiveness of supply chain strategies, balancing affordability with accessibility. This interdisciplinary framework enables equitable distribution of essential medications, particularly in underserved regions, by addressing systemic challenges such as logistical inefficiencies, pricing disparities, and regulatory compliance. The proposed approach leverages AI to identify demand patterns and optimize supply routes, while blockchain ensures secure, verifiable records of drug production, distribution, and delivery. Integrating pharmacoeconomic assessments informs pricing models and reimbursement strategies that align with socio-economic realities, thus promoting affordability without compromising sustainability. Case studies from pilot implementations highlight the potential for reduced operational costs, enhanced drug traceability, and improved access to life-saving medications. By combining the strengths of AI, blockchain, and pharmacoeconomics, this framework offers a scalable, resilient, and adaptive model for pharmaceutical supply chains, addressing global health inequities. It underscores the importance of collaboration among stakeholders, including governments, healthcare providers, and technology innovators, in advancing healthcare outcomes. Future research should explore the ethical implications, technological scalability, and policy frameworks necessary to ensure the widespread adoption of this integrated paradigm.
Keywords:
Pharmaceutical supply chains; Artificial Intelligence (AI); Blockchain; Pharmacoeconomics; Equitable drug access; Global health; Adaptive logistics; Predictive analytics; Drug traceability; Healthcare innovation
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