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Align Technology, Inc. ALGN recently entered into an exclusive supply and distribution multi-year agreement with Ultradent Products – a global developer and manufacturer of high-tech dental materials, devices, and instruments. Per the multi-year settlement, Align Technology will provide Invisalign trained doctors a unique professional whitening system with the leading Opalescence PF whitening formula from Ultradent.
The system will carry the co-branded title of Invisalign Professional Whitening System -- powered by Opalescence -- and will be commercially available across the globe in 2022.
The recent development is likely to strengthen Align Technology’s Invisalign portfolio, which offers orthodontic treatment options.
About Invisalign Professional Whitening System
The new Invisalign Professional Whitening System transforms teeth whitening with an all-in-one solution that allows Invisalign trained doctors to straighten and whiten teeth simultaneously.
The Invisalign Professional Whitening System will provide the identical whitening outcomes and smooth practice experience dental professionals expect from the Opalescence PF product during active tooth movement with Invisalign aligners, in addition to the procedure of passive retention utilizing Vivera retainers.
Significance of the Launch
Per Align Technology’s management, providing an all-in-one solution brings together a leading teeth-whitening system with the highly developed clear aligner system, thereby enabling Invisalign trained doctors to improve their patients’ treatment experience with seamless workflow.
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Furthermore, Invisalign system trained doctors can utilize Opalescence PF for in-office teeth whitening treatment and for doctor supervised at-home whitening.
The Invisalign Professional Whitening System is easy to manage and provides better patient experience through the combination of whitening with Invisalign aligners or Vivera retainers.
Per a report by Mordor Intelligence, the global teeth whitening market was valued at $6.14 billion in 2020 and is estimated to reach $8.21 billion by 2026, at a CAGR of 4.95%.
Rising awareness about oral hygiene, easy availability of teeth whitening Over-the-counter (OTC) products, and stigma associated with discoloration of teeth are the factors driving the market. Hence, the launch of Invisalign Professional Whitening System by Align Technology is well timed.
Progress With Invisalign Portfolio
During the second-quarter earnings call in July, Align Technology confirmed that the Invisalign adoption with respect to adults jumped 12.6% sequentially and 220.4% year over year. Adoption by teens or younger patients increased 9.5% sequentially and 156% year over year. The company shipped a record 665000 Invisalign cases, reflecting an increase of 11.7% sequentially and 200% year over year. In addition, the company shipped a record 83500 Invisalign cases to doctors worldwide, of which nearly 7200 were first-time customers.
Further, in the second quarter of 2021, the EMEA region also witnessed strong growth led by solid adoption of the Invisalign First product, which was designed to treat a broad range of teeth straightening issues in growing children, from simple to complex, including crowding, spacing, and narrow dental arches.
Shares of the company have gained 126.9% in a year’s time compared with the industry’s rise of 33.6%.
Zacks Rank and Key Picks
Currently, Align Technology carries a Zacks Rank #3 (Hold).
A few better-ranked stocks from the broader medical space are Envista Holdings Corporation NVST, BellRing Brands, Inc. BRBR and Henry Schein, Inc. HSIC, each carrying a Zacks Rank #2 (Buy). You can see the complete list of Zacks #1 Rank (Strong Buy) stocks here.
Envista Holdings has an estimated long-term earnings growth rate of 27%.
BellRing Brands has an estimated long-term earnings growth rate of 29%.
Henry Schein has a projected long-term earnings growth rate of 14%.
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Align Technology, Inc. (ALGN) : Free Stock Analysis Report
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