“Amazon Will See You Now”
Alexa, what’s my blood sugar? Amazon is getting science-y, closing in on a vast market opportunity to help people living with diabetes! Bezos’s company isn’t the only tech giant volunteering to help. Apple and Alphabet are both hot on its tail!
Nearly a third of America’s population suffers from diabetes. Strength in numbers perhaps, as that’s a market large enough to seriously move the earnings needle for the world’s largest and most capable companies. As many investors had predicted, the tech titans are moving in. Fintech’s already out of the bag but “medtech?” That’s a brand new niche for money to be invested.
The keyword is “scale.” Amazon, Apple, and Alphabet are enlisting the help of established medical players, well versed in the design of medical equipment. The reach of their combined creations could push new boundaries, with companies like McKinsey already playing a critical role in distributing sensitive medical devices. Investors are putting two-and-two together to realize what demand could be waiting around the corner for such companies.
Expect integrations with Alexa, Siri, the iPhone, and the iWatch. According to the chief medical officer behind Alphabet’s diabetes effort, “this is a worldwide epidemic” that the company must do something about. Other medical professionals have complained, however, that any tech gizmo will be a treatment, not a cure. They may well be right, but the stock market manual clearly states the need to have customers coming back again, and again, and again. Just ask investors in drug stocks!
Some say technology has already become a life-support machine for consumers. However, that won’t stop tech giants from trying to conquer the real medical world, just in case! Medtech is coming!