Though Apple (NSDQ:AAPL) has only begun to step into the healthcare market, a group of Morgan Stanley analysts estimate the company’s opportunity in the U.S. healthcare market to be three times larger than the global smartphone market, according to a Bloomberg report.
The analysts estimated that Apple’s healthcare market opportunities could be worth between $15 billion up to a massive $313 billion by 2027, according to the report.
The Cupertino, Calif.-based tech giant’s massive ecosystem built around the iPad and iPhone, other iOS devices and its App Store could allow Apple to disrupt “various processes in the healthcare industry,” according to Bloomberg.
While other companies, including Google and Amazon, may have an edge on artificial intelligence capabilities, the massive number of users of Apple devices “is a clear advantage that cannot be underestimated,” analysts said.
“Healthcare is a market where Apple has the potential to lead digital disruption – much like what iTunes did for music or the App Store for mobile services. Based on what it has done over the last five years, we see Apple creating the building blocks of another ecosystem,” analysts wrote, according to the Bloomberg report.
Analysts speculated that new medical-grade devices, including wearables or hearing aids, and integration of medical data into devices like the Apple Watch could “grab investors’ attention,” according to the report. Other opportunities include acquiring a healthcare company to accelerate its entrance into the market.
Last year, Apple reported total sales of $265.5 billion, with its iPhone device accounting for 60% of revenue, according to Bloomberg.
Last month, Apple released data from its 419,297-patient Apple Heart Study, showing that the device is capable of aiding in the detection of atrial fibrillation using its light-sensor based technology.
from MassDevice http://bit.ly/2OWDuqO
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