Every company, eventually branches out from their main product, once they get big enough, getting involved in various other areas as a means to sustain itself and grow even further.
Apple Inc, is one of the biggest companies out there, becoming the first publicly traded US company to have a valuation of over $3 trillion, a milestone they crossed in January of this year. The company known for its brand products like iPhone, iMac, iPad and many more that are among the most wanted tech gadgets in the world.
The tech company, however, now plans on venturing into the healthcare sector, when it published a report spanning almost 60 pages where it detailed future partnerships with medical institutes and health features it plans to add into its offerings now.
Is Apple Going Into Healthcare?
In a 2019 interview with CNBC, CEO Tim Cook had mentioned his plans to venture into the healthcare sector, saying “I believe, if you zoom out into the future, and you look back, and you ask the question, ‘What was Apple’s greatest contribution to mankind?’ it will be about health.”
The Apple Watch has certainly been the thing that started it all, with it having had a pretty consistent lead in the smartwatch market, with not even Samsung and others being able to take lead for very long.
The Apple Watch is not just a fashion item, although that certainly is one of the biggest ways its marketed, however, the bevy of features it offers, including health related ones are certainly that boost its usability to consumers.
The Health & Fitness+ app is already pre-installed into all Apple Watches, iPhones and more, where as per reports they have been able to collect over 150 kinds of readings realted to people’s health.
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In a report that the company published in June of 2022, Apple talked about how their technology “provide[s] users with high-quality data gathered throughout the day and night and meaningful insights into their health…” and that “providing individuals with insights into their health and fitness empowers them to set and stick to personal health goals and, when necessary, seek guidance and care from their medical providers.”
As per a Forbes report, the CCS Insight even predicts that Apple is soon to take steps into the US health insurance market by partnering with a major insurer and using the fact that they have access to health data of millions already collected as a way to get an edge over competitors.
According to the report “Apple already collects data such as blood pressure, blood oxygen levels, ECG readings and body temperature from the Watch, as well as helping people regulate their medication. With accompanying devices, the Watch and iPhone can also be used to monitor conditions such as diabetes.”
Ben Wood, chief analyst at CCS Insight commented that “They’ve got a wealth of personal health data through Apple Watch. If they join some of the dots together they can become a very competitive health insurance player and that potentially is going to have quite an impact on the structure of the healthcare market in the U.S.”
Image Credits: Google Images
Feature Image designed by Saudamini Seth
Sources: Forbes, CNBC, Bloomberg
Find the blogger: @chirali_08
This post is tagged under: apple healthcare company, apple, apple company, apple health, apple inc, apple inc healthcare, apple health insurance, tim cook
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