Apple could generate $313B from healthcare in 2027 — but it won't
to embed new medical sensors in the Watch to carve out more niche use cases like diabetes management and broaden its addressable market. Apple grew wearable revenue 42% year-over-year in 2018 and could hit around $15 billion in healthcare-related revenue by 2021 if it continues on that trajectory.
Apple monetizes its healthcare investments through existing services like iCloud and App Store. For example, Apple could charge a"take rate" on health services delivered through its App store. While health and fitness app gross revenue from Apple's App Store totaled $670M — just 1% of App Store gross revenue — building a more robust ecosystem of mobile health apps presents a lucrative opportunity.
Apple generates substantial fee-related revenue by reducing healthcare's massive waste problem.Medical waste cost the US healthcare system somewhere between $560 million and $1.3 trillion in 2011. If Apple can streamline healthcare data flows to reduce administrative burdens and unnecessary treatments for health firms, it could reduce waste and charge a fee for the service. Morgan Stanley's high-end estimate assumes that Apple could reduce up to 50% of all US healthcare waste by 2027.
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