Healthcare Market Could Potentially Dwarf Smartphone Market for Apple, Says CEO Cook
Apple CEO Tim Cook says that the healthcare market’s potential could dwarf the smartphone market that accounts for some 65% of Apple’s $234 billion in annual revenues.
The consumer electronics giant – which is rumored to be developing a stand-alone device to monitor heart rate, pulse, blood and sugar changes – has a significant advantage over medical device and drug manufacturers, Cook told FastCompany.com.
“When you look at most of the solutions, whether it’s devices, or things coming up out of Big Pharma, first and foremost, they are done to get the reimbursement [from an insurance provider]. Not thinking about what helps the patient.
The consumer electronics giant – which is rumored to be developing a stand-alone device to monitor heart rate, pulse, blood and sugar changes – has a significant advantage over medical device and drug manufacturers, Cook told FastCompany.com.
“When you look at most of the solutions, whether it’s devices, or things coming up out of Big Pharma, first and foremost, they are done to get the reimbursement [from an insurance provider]. Not thinking about what helps the patient.