Amazon has recently partnered with a company that manufactures exclusive health and wellness products. This recent venture is with Arcadia Group. Arcadia has made this move in order to respond to Amazon’s plan to expand its healthcare footprint.
The CEO of Arcadia, Bob Guest, thought that Amazon could actually be missing out on a whole market for people with chronic illnesses. They agreed that there could be success in products and offerings that are meant for diabetics and other hard-to-manage chronic diseases. Arcadia is planning to sell medical devices through Amazon. The devices include glucose monitors and blood pressure cuffs. These consumer-focused products come under the brand called Choice.
Choice has been literally taking care of the needs of millions of people who are suffering from diabetes and hypertension. While diabetes occurs in an estimated 30 million Americans, one in three Americans lives with high blood pressure. The blood pressure cuffs and glucose monitors that Choice sells will hopefully help to ease the difficult conditions of these people.
One great feature of Arcadia’s Choice website is a page where people can freely vote for the next healthcare product that they want the company to offer. There are a wide variety of options ranging from insulin pens to heart rate monitors.
Bob Guest believes that there are more to come as he and his company are brainstorming ways to sell more of their products with Amazon. Their next target would be to partner with Amazon’s Echo to use Amazon’s intelligent voice assistant, Alexa. The device would be used to help consumers manage their illness and to sell health monitoring devices that would help the users better manage it.
Amazon Bumps Its Budget
It all boils down to how Amazon has been boosting its healthcare arm for the past decade. In fact, its marketplace now sells more medical products than ever. The products range from over-the-counter consumer health items to hospital supplies. Equipped with a business team that is committed to giving Amazon high quality, in-demand medical supplies, all Amazon loyalists are confident that Amazon sells only the best of the best.
For quite some time now, Amazon has been working closely with an internal R&D group known as Grand Challenges and its pharmacy group, PillPack. As Amazon continually expands, it shows its dedication to its workers by considering a team-up with Berkshire Hathaway and J.P. Morgan to take care of its employees’ healthcare needs.
Amazon currently stands as an industry giant with more than 120 brands that are exclusively sold in its marketplace. According to information from SunTrust Robinson Humphrey, Amazon has increased the number of these exclusive brands in the last two years. Moreover, Amazon is expected to reach a whopping $25 billion in sales by the year 2022, which is more than threefold the $7.5 billion it has generated so far in 2018.