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Clear aligners are transparent trays that are used to straighten teeth. They are prepared using materials such as Polyethylene Terephthalate Glycol (PETG). These aligners are newer as compared to conventional braces and are known to reduce the duration of the treatment significantly. As a result, despite being new in the market, the product is witnessing exceptional sales in recent years. Unlike traditional braces, these aligners are much more convenient to use and are less exasperating compared to metal braces.
The global market for clear aligners touched USD 2.41 billion in 2020. The market was negatively affected during the COVID-19 pandemic and recorded a lower growth rate of 4.4% in 2020. However, the market is expected to reach USD 10.04% by 2028, witnessing a spike of 19.7% during the forecast period. Invisalign by Align Technologies is expected to dominate the market considering its numerous advantages.
Advantages of Invisalign by Align Technologies
Comfort and Convenience- Invisalign clear aligner braces are extremely comfortable and can be removed for 4 hours a day. The braces eliminate the need for bands and can be easily worn by the patients.
Invisibility- Invisalign has aided its consumers with a comfortable and transparent solution. The transparent braces enhance the aesthetic appeal, further boosting the product's sales.
Reduced Treatment Duration- The product reduces the treatment time and enables the patients to recover faster. Invisalign can cure patients in 12 months compared to 24 months of traditional aligners.
COVID-19 Impact: Demand for Advanced Healthcare Products to Foster Growth in the future
The demand for better healthcare products is likely to fuel clear aligners' sales. Because of the restrictions placed on hospital visits and the alarming spike in COVID-19 cases, the demand for healthcare equipment that reduces recovery time and hospital stays are increasing rapidly. An aligner is an extremely convenient and effective means of straightening teeth. Its adoption eliminates extensive consultation and speeds up the recovery process. Despite the initial hiccups of COVID-19, the market has adapted effectively by installing reduced capacities, production machinery, and other strategies that eliminate the need for deploying manual labor. This has further reduced the clear aligner companies' labor costs and enhanced their product's quality. The soaring demand for better braces is expected to increase the aligner's sales.
Align Technologies is a US-based company founded in 1997. Its headquarters is located in San Jose, California, U.S. It is a leading manufacturer of medical devices that are involved extensively in the production of Invisalign treatment orthodontic solutions and 3D digital scanners. The company's revenue reached USD 2.10 billion in 2020. It holds up to 80-85% market share globally. The company is focusing heavily on expanding its digital platform to enhance its treatment services. For example, Align Technology, Inc. expanded its ClinCheck PRO 6.0 and ClinCheck "In-face" Invisalign treatment visualization in May 2020. It uses cloud-based services and provides the consumers with an optimal treatment procedure. The company is focusing heavily on enhancing its position by incorporating acquisition strategies. For example, the company acquired a global dental CAD/CAM software leader EXOCAD in April 2020. To cater to the rising demands for online consultation and diagnosis, the company developed its digital platform during the COVID-19 pandemic.
Institut Straumann AG is a Switzerland-based company that was founded in 1954. It is headquartered in Basel, Switzerland, and is the second-largest market player across the globe. The company acquired a leading manufacturer named ClearCorrect LLC in 2017 to enter the global market. As per the FY 2020, the company exhibited a 7.3% revenue decline from 2019-2020. However, despite this decline, the company managed to maintain growth in the major regions such as Middle East & Africa, Europe, and North America.
Henry Schein was founded in 1932 and headquartered in Melville, New York, U.S. The company aims to offer customized aligners to patients looking for aesthetic dental solutions and malocclusion conditions. The company plans to offer simplified dental solutions to its consumers by incorporating advanced technologies. For example, the company announced its SLX Clear Aligner System in August 2019, which is an advanced set of dental solutions incorporating First/ Motion technology that simplifies treatment procedures. The company aims to increase its global presence by participating in international events held by the FDI World Dental Federation and American Dental Association (ADA), such as the FDI World Dental Congress.
Dentsply Sirona is an American manufacturer of dental equipment which was founded in 1899 and headquartered in York, Pennsylvania, U.S. It is a major player because it offers SureSmile Aligners. The company adopted several inorganic and organic strategies to reinforce its market stance. For instance, Dentsply Sirona acquired one of the swiftly growing companies named Byte in January 2021. Through this acquisition, the company shall develop its SureSmile clear aligner business and strengthen connections with dentists. Additionally, the company focuses on announcing novel products that are based on digital impression scans. For example, the company launched SureSmile aligners that use 2D and 3D image scans and digital impression scan technologies to straighten teeth accurately.
3M was founded in June 1902 and headquartered in Saint Paul, Minnesota, U.S. It is a dominant market player because of its 3M Clarity Aligners. The company plans to expand its product portfolio by announcing novel products such as 3M launched Clarity clear aligners launched in May 2018. This launch enabled the company to enhance its brand presence globally.
Invisalign to Dominate this Market for Aligners, Despite the Entry of New Players
The prominent players of this market have focused on acquisition strategies to augment their brand presence. However, Invisalign manufacturer Align Technology, has deployed organic strategies such as strengthening digital tools to survive the pandemic. The focus on developing digital tools has enabled the company to fortify sales and enhance its brand presence globally. These strategies have enabled the company to dominate the global market and ensure great performance in the upcoming years.