Apple Launches CareKit To Transform Healthcare
Apple is all set to become an important player in the healthcare industry.
Apple new software based healthcare platform, “CareKit” was launched in highly anticipated March 21 event. The healthcare platform is a framework where the individuals can use the applications written by various developers in order to efficiently monitor their health levels. The relevant data subsequently could be easily shared with the doctors.
The artificial intelligence has been growing at an alarming rate and it has been swiftly integrated into many applications created by tech companies. Similarly, the CareKit applications carry few tests in order to monitor the individual’s symptoms. The most valuable company of the world has already launched two apps along with the launch of the healthcare software, which aims to cater to the Parkinson’s Disease’s treatments while the other app relates to the post-surgery care.
Merrill Lynch analysts have expressed that the launch of CareKit can be the “watershed moment” for the tech giant as it can come out as a frontrunner in the healthcare evolution. The previous initiatives taken by the tech titan included the launch of HealthKit – in summers of 2014 – and ResearchKit, which has only debuted last year. The ResearchKit allowed for the medical data, which was more often needed and was collected for establishing studies and research.
The analysts cited that the instant achievement of ResearchKit software could be easily seen through the lens of the “scope of institutions utilizing the platform as well as the range of diseases and conditions addressed in the studies.” The firm’s analysts indicated that the ResearchKit’s massive hit is quite evident by the fact that immediately after the software launch, the medical research in Parkinson’s study colossally boosted.
Merrill Lynch pointed out that across all 50 states the Asthma Health study was able to spot triggers for the symptoms of asthma by using the app. Through CareKit, the $592 billion company hopes to elevate itself a bit higher in the healthcare through the effective individualized treatment options. The firm has anticipated that the swift transition of the Cupertino, Calif. firm in healthcare is more likely to take US tech leviathan a step closer to being an important industry player.
The competitive gain, which the Silicon Valley business has over rivals in this regard, is that the tech giant has put immense importance on keeping the privacy intact. Similarly, at the launch, CEO Tim Cook pressed the importance of security and said that the company will not “shrink from the responsibility.” One of the research notes had the following, “Given the sensitivity of the highly personal data, Apple has continuously stressed the ability for users to manage which Health applications they use and who specifically can view the data. Other business models profit from user data through ads.”
No significant impact was observed on the stock of the company after the launch of the software based healthcare platform along with the uncovering of highly anticipated iPhone SE.
As of currently, at the market which closed on Tuesday, Apple stock stood at a price of $106.72. The 52-week range of the stock is $92 to $135. The price target of $130 has been set by Merrill Lynch on Apple’s stock along with the outperform rating forwarded by the firm.