Hyperledger Fabric, Ethereum/Polygon, VeChain, Quorum /Besu and Corda (R3) selected as most suitable blockchain platforms to build PharmacyChain
U.S. prescription drugs market project to grow from $634 billion market to $883 billion by 2030 according to Grandview Research[1]
Global blockchain in healthcare market is projected to grow from $11 billion in 2024 to $214 billion by 2030, according to Grandview Research[2]
TAMPA, FLORIDA / ACCESS Newswire / March 5, 2026 / Wellgistics Health, Inc. (NASDAQ:WGRX) ("Wellgistics"), a health information technology leader, integrating proprietary pharmacy dispensing optimization artificial intelligence (AI) platform EinsteinRx into its patented blockchain-enabled smart contracts platform PharmacyChain, today announced that it has completed its evaluation process to select the most suitable blockchain platforms on which to build smart contracts-enabled pharmaceutical drug tracking system PharmacyChain that will further enable industry-wide serialization mandates, such as the United States' Drug Supply Chain Security Act (DSCSA[3]). The Company selected Hyperledger Fabric, Ethereum/Polygon, VeChain, Quorum/Besu and Corda (R3) as the most suitable blockchain platforms currently in use in order to initiate PharmacyChain development. The Company is seeking to complete the development work needed to establish closed-loop, HIPAA-compliant data transfers required to complete smart contracts within its own Wellgistics Pharmacy by the end of the second quarter of 2026.
"Now that we have identified what we believe are the best technologies currently available upon which to build PharmacyChain, we are beginning the development work needed to make it operational initially within our own pharmacy by the end of next quarter," said Prashant Patel, RPh, President & Interim-CEO of Wellgistics Health. "While we intend for PharmacyChain to be made available for our own pharmacy and the 6,500+ independent pharmacies within the Wellgistics Pharmacy Network later this year, we also believe that other major pharmacy industry participants may increasingly adopt similar solutions given our strong intellectual property position. We intend to build multiple PharmacyChain options on different blockchain platforms such that large manufacturers, wholesalers and pharmacies will be incentivized to work with us in order to gain access to our patented technology to help them improve their pharmaceutical supply chain management systems, delivering on our promise of building the 'Health Data Railroad' through tokenization and smart contracts. We intend to program PharmacyChain in such a way that other key aspects of the healthcare ecosystem will be able to seamlessly integrate their data in order to produce a best-in-class product for all key healthcare stakeholders."
Wellgistics' intellectual property, exclusively licensed from Datavault AI, creates a competitive advantage related to the use of smart contracts in the $4.9 trillion US healthcare market[4]. PwC estimates $1 trillion opportunity to shift healthcare spending[5] towards a digital-first, proactive, and personalized system of care that minimizes administrative burden. The global blockchain in healthcare market currently stands at $11 billion, and is projected to grow to $214 billion by 2030 according to Grandview Research, with compound annual rates expected to exceed 60% per year. The U.S. prescription drug market, where independent pharmacies play a vital role, represents a $634 billion market opportunity, projected to grow to $883 billion by 2030 according to Grandview Research. The global healthcare as a service market is expected to grow from $25 billion in 2024 to $74 billion by 2030 according to Grandview Research[6] amid increasing adoption of cloud-based solutions across hospitals, clinics and insurance companies. Blockchain-based, tokenized smart contracts technology integration leveraging artificial intelligence will help significantly improve transparency in healthcare, delivering trust and efficiency while improving patient outcomes.
About Wellgistics Health, Inc.
Wellgistics Health (NASDAQ:WGRX) is a health information technology leader, integrating proprietary pharmacy dispensing optimization artificial intelligence platform EinsteinRx into its patented blockchain-enabled smart contracts platform PharmacyChain to optimize the prescription drug dispensing journey. Its integrated platform connects 6,500+ pharmacies (the "Wellgistics Pharmacy Network") and 200+ manufacturers, offering wholesale distribution, digital prescription routing, direct-to-patient delivery, and AI-powered hub services such as eligibility, adherence, onboarding, prior authorization, and cash-pay fulfillment as needed to optimize patient access. Wellgistics provides end-to-end solutions designed to restore access, transparency, and trust in the U.S. prescription drug market for independent pharmacies.
For more information, visit www.wellgisticshealth.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding the development, implementation, and potential adoption of the Company's PharmacyChain platform, anticipated benefits of blockchain and artificial intelligence technologies in healthcare, expected development timelines, and potential market opportunities. These statements are based on current expectations and assumptions and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. Such risks and uncertainties include, among others, risks related to technology development and implementation, commercial adoption of the Company's solutions, regulatory developments, protection of intellectual property, and general market conditions, as well as other risks described in the Company's filings with the U.S. Securities and Exchange Commission. Forward-looking statements speak only as of the date of this press release, and the Company undertakes no obligation to update them except as required by law.
Wellgistics Media & Investor Contact
Media:
media@wellgisticshealth.com
Investor Relations:
IR@wellgisticshealth.com
[1]https://www.grandviewresearch.com/industry-analysis/us-pharmaceuticals-market-report
[2]https://www.grandviewresearch.com/industry-analysis/blockchain-technology-healthcare-market
[3]https://www.fda.gov/drugs/drug-supply-chain-integrity/drug-supply-chain-security-act-dscsa
[4]https://www.cms.gov/data-research/statistics-trends-and-reports/national-health-expenditure-data/nhe-fact-sheet#:~:text=Historical%20NHE%2C%202023:,the%207.8%25%20growth%20in%202022
[5]https://www.pwc.com/us/en/industries/health-industries/library/future-of-health.html
[6]https://www.grandviewresearch.com/industry-analysis/healthcare-software-as-a-service-market-report
SOURCE: Wellgistics Health, Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/healthcare-and-pharmaceutical/wellgistics-health-selects-top-five-blockchain-platforms-to-initiate-1143982
