Apple's opportunity in health care is so large with the Apple Watch that the company should soon generate tens of billions of dollars a year in annual revenue from wearables and health services, according to a new report from Morgan Stanley.
Morgan Stanley's estimate is that health for Apple will top $15 billion in sales by 2021, based on the popularity of the Apple Watch and its health features, like monitoring heart rate and steps. The very high end of Morgan Stanley's estimate range is $313 billion by 2027, which is a particularly lofty figure since Apple's total revenue last year was $266 billion.
Apple has a few key advantages over its technology rivals, including Alphabet and Microsoft, as it looks to move into the medical market and attack the $3.5 trillion health-care industry, the report says. Privacy is among the most important benefits. For instance, Apple was able to recruit 400,000 people in less than a year for its Apple Watch heart health study with Stanford University, suggesting that people are willing to share their medical information with Apple.
Source: News Formal (newsformal.com)
MorganStanley What prospect for Fitbit in the same space? $FIT
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