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Hologram and Blockchain: Innovative Tools Against Counterfeit Drugs

  • Writer: Current Affair Writer
    Current Affair Writer
  • Apr 4, 2024
  • 1 min read

CEO of Mankind Pharma Ltd, advocates for the integration of hologram and blockchain technologies as pivotal measures to combat the proliferation of counterfeit drugs. These advancements are seen as essential in safeguarding the integrity of the pharmaceutical industry, which is expected to grow significantly in the coming years.


Key Strategies for Counterfeit Prevention:

  • Holographic Security Labels: Incorporating 3D holographic images, unique patterns, and micro-text into drug packaging, making them extremely challenging for counterfeiters to replicate.

  • Blockchain for Traceability: Utilizing blockchain technology to ensure end-to-end tracking of drug shipments, enhancing the traceability and security of pharmaceutical products

Significance of Combatting Counterfeit Drugs:

  • Global Health Risks: The World Health Organization (WHO) estimates that approximately 10.5% of medications sold globally are substandard or counterfeit, posing significant health risks to consumers.

  • Economic Impact: With the Indian pharmaceutical industry projected to reach $130 billion by 2030, protecting the market from counterfeit products is crucial for economic growth and consumer safety.

Conclusion:

The adoption of hologram and blockchain technologies represents a forward-thinking approach to preventing the sale of counterfeit drugs, ensuring product authenticity, and protecting consumer health.


Keywords to Remember:

  • Counterfeit Drugs: Pharmaceuticals that are illegally manufactured and sold under false branding

  • Hologram Technology: A security feature that creates three-dimensional images on product packaging, difficult to counterfeit.

  • Blockchain: A digital ledger technology that offers secure, transparent tracking of transactions and product movements.


Reason it's important : Hologram, blockchain can curb fake drugs

Published in : The Hindu

Date appeared in newspaper : 04 April 2024

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