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Align Technology Inc ALGN Stock Quote

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Morningstar‘s Stock Analysis ALGN

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Is it the right time to buy or sell?

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Inflation Takes Bite Out of Align's Fair Value Estimate, but Shares Still Attractive

Debbie S. Wang Senior Equity Analyst

Business Strategy and Outlook

| Debbie S. Wang |

In the 25 years since Align was granted U.S. Food and Drug Administration approval for its clear dental aligners, the Invisalign brand has become synonymous with effective and discreet orthodontic treatment. The serviced addressable market comprises 15 million new orthodontic case starts each year, three fourths of which represent the teen market and the remainder adults. We estimate that Invisalign has achieved low-teens market penetration, largely due to its success at appealing to the adult market. Through two decades of research and development and an unrivaled database from roughly 10 million treated patients, Invisalign estimates that the system can treat over 90% of malocclusion cases (misaligned teeth), a substantially wider array of patients than seen with most other clear aligner firms.

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Key Statistics ALGN

Company Profile ALGN

Business Description

Align is the leading manufacturer of clear dental aligners globally, having pioneered the technology with the introduction of its Invisalign branded aligners in 1998. Since then, Invisalign has become a household name, having treated over 10 million patients with malocclusion (misaligned teeth) through orthodontist and dentist-guided treatment plans. The company maintains dominant market share of clear aligners, despite the introduction of direct-to-consumer competitors upon the expiration of key patents that began in 2017. Align also manufactures intraoral scanners (iTero), used for orthodontic treatment and restorative dental procedures (digital models for crowns, veneers, and implants).

410 North Scottsdale Road, Suite 1300
Tempe, AZ, 85281
T +1 602 742-2000
Industry Medical Devices
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 24,020