Life Sciences Industry Blockchain Value Management, Investments, and Finance Impact Assessment: Global Questionnaire Survey of 1524 Industry Professionals and Executives
António Pesqueira, Maria José Sousa
Abstract
Blockchain is a relatively new technology, and its implementation in the life sciences industry is no different. Some of these cases are still in the piloting program stages, but others have already been adopted by life sciences organizations, justifying the emerging need in the field, which is still in its infancy. Blockchain is becoming more important in many different fields and organizations, with a growing influence on pharmaceuticals, biotechnology, and medical device companies. Through this chapter, we will gain a greater understanding of the current applications, future trends, investment areas, and key characteristics of existing life sciences use cases, as well as existing models and platforms of blockchain. About 1524 industry professionals and leaders from relevant functions participated in the survey, 68which was designed as a global survey. Whether companies already run processes using blockchain technology or not, the chapter examines the impact of these changes on companies with or without blockchain strategies. A study supported by an online survey analyzing the current adoption and application of blockchain will provide key conclusions on how the technology is becoming more prevalent in many life sciences fields despite the challenges it faces. Using the data collected to support the conclusions of this study, the analysis found that a substantial percentage of life sciences leaders and professionals are already aware of blockchain and considering implementing it in the next years. Furthermore, it allowed us to understand that the industry is already comfortable with blockchain, and the mentioned use cases and opportunities gave us very reliable research regarding the most relevant application areas and key considerations for the future. By analyzing the survey results and understanding all the connections and relationships collected from respondents, the interconnectedness between blockchain and the industry is revealed.