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Blockchain: The Answer to Medtech Traceability?

Pressures to control supply chains are increasing while governments are adding new requirements for companies to better track individual products. Blockchain technology is most often associated with cryptocurrencies like Bitcoin, but it has a lot to offer to the medtech space as a tool to enhance product traceability and address new EU regulatory requirements. Lydia Torne, with law firm Simmons & Simmons LLP, explores the prospects.

Blockchain (whiteMocca/Shutterstock.com)
About The Author

Lydia Torne is a Managing Associate at the international law firm Simmons & Simmons LLP. She specializes in all types of transactions involving intellectual property, with a particular focus on the life sciences sector. She also advises on life sciences regulatory compliance issues including product classification, interactions with health-care professionals, clinical trials, market access, supply chain requirements, marketing and pharmacovigilance.

Having revolutionized the financial markets sector with the creation of cryptocurrencies such as Bitcoin, other sectors are now exploring whether blockchain technology could transform their own industries. The life sciences sector, including devices and diagnostics, is no exception and one promising application for blockchain in this space is traceability solutions.

Pressures to control supply chains are increasing while governments are adding new requirements for companies to better track individual products....

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