Health care is one of the biggest markets for the online retailer, with sales in the U.S. surpassing $4.4 trillion in 2016.
That makes it a big opportunity for Amazon to expand its product line and tap into a market that hasn’t seen much growth in years.
“This market is a little bit underdeveloped,” said Michael R. Ruse, chief financial officer of HealthCare.com, which sells medical devices and devices for cancer treatment.
“You have to have the right kind of product to meet the demand.
There’s not a lot of differentiation between the different types of products.”
Health Care.com is one example of a specialty medical device company that is taking a big risk to expand into this market.
The company recently began selling medical devices on Amazon’s website.
The first device is a robotic arm that Amazon calls a Parastatic Augmented Reality (PARAR) device.
The company plans to sell more products, including a robotic vacuum cleaner.
Other companies like Parastar are also experimenting with a more advanced medical device, called a cardiac pacemaker, which is also called a smart pacemaker.
Amazon is trying to expand beyond just its own medical devices with products like Amazon Echo and the Amazon Echo Dot, which offer voice-controlled home automation.
The device, for example, can tell the wearer when a doorbell is ringing, or ask the user for a list of items to purchase from Amazon.
Amazon also recently announced that it will start offering a $99 smart speaker that will be sold in the Amazon app store.
But even with all the potential new customers and growth in the market, Amazon is still going to have to deal with the problems of getting them to use its devices.
As Amazon has been pushing more of its own products to consumers, including new categories like the Amazon Appstore, it has also been finding it harder to get the same kind of traction among businesses.
The most recent round of financing for Amazon was for $1.4 billion.
The deal is still in its early stages and the company is still waiting to see if it can break even on the deal.
For more on the medical device business, watch: The medical device market is expected to grow at a CAGR of about 8 percent in 2021, according to a recent estimate by the research firm eMarketer.
And for more about Amazon’s medical device strategy, watch the video above.
Read or Share this story: http://usat.ly/2p4y2Lb