Align Technology, Inc. ALGN recently announced the commercial availability of its proprietary ClinCheck treatment-planning software. Notably, the software was to be featured at the virtual Align Asia Pacific (“APAC”) Virtual Symposium on October 16.
For investors’ note, the ClinCheck software provides doctors with a 3D model of planned tooth movements throughout the Invisalign treatment. The software includes the ClinCheck Pro 6.0 and the ClinCheck “In-Face” Visualization tool.
Notably, the ClinCheck “In-Face” Visualization tool is an enhanced doctor-facing digital clinical tool that combines a photo of the patient’s face with their 3D Invisalign treatment plan, creating a personalized view of how their new smile could look.
With the latest announcement of commercial availability, Align Technology aims to strengthen its position in the global clear aligners market.
Few Words About Invisalign System
The Invisalign System is the company’s proprietary method for treating malocclusion (imperfect positioning of the teeth when the jaws are closed). This is based on a proprietary computer-simulated virtual treatment plan and a series of doctor-prescribed, custom-manufactured and clear plastic removable aligners.
Once information and digital data of the patient is obtained, Align Technology generates a proposed custom 3D treatment plan, known as the ClinCheck treatment plan using the company’s proprietary software. A patient’s ClinCheck treatment plan simulates expected tooth movement in stages and details the timing and placement of any feature or attachment to be used during treatment.
Significance of the Availability
The availability of the ClinCheck Pro 6.0 ensures the transfer of Invisalign digital treatment plans to the cloud, thus making the ClinCheck treatment planning tools and features available to doctors per their convenience. The cloud-based solution allows doctors to access treatment plans across devices and ensures the availability of the latest version of the software without the need for additional downloads. Further, it offers users a treatment-planning solution that provides doctors with a more intuitive design and an enhanced user experience.
The ClinCheck “In-Face” Visualization tool is designed to help doctors with their digital treatment planning and to increase patient understanding of the benefits provided by Invisalign treatment through enhanced visualizations of their personalized treatment outcome. Notably, the workflow combines three components of Align Technology’s digital treatment platform: Invisalign Photo Uploader for patient photos, the iTero intraoral scanner to capture data needed for the 3D model of the patient’s dentition, and ClinCheck Pro 6.0.
Per a report by Verified Market Research, the global clear aligners market was valued at $1.89 billion in 2019 and is expected to reach $8.81 billion by 2027 at a CAGR of approximately 21.1%. Factors like growing awareness among people about dental care, rising customer spending and technological advancements are likely to drive the market.
Given the market potential, the latest commercial availability is expected to significantly boost Align Technology’s business.
Of late, Align Technology has been witnessing a slew of developments.
The company, in September, announced the addition of the Steraligner aligner cleaning system to the Invisalign Doctor Site web store and InvisalignAccessories.com. In the same month, Align Technology launched the Invisalign Stickables, which are sticker accessories designed exclusively for use with the SmartTrack material in Invisalign clear aligners.
In August, the company reached a new milestone by treating the one millionth patient from Tokyo (Japan) in the APAC region with its Invisalign system. Per the company’s estimates, the Invisalign system is the only clear aligner with one million patients in the APAC region and more than eight million patients worldwide.
In the same month, the company signed an agreement with the National Football League (“NFL”) to make the Invisalign brand the Official Clear Aligner Sponsor of the NFL. Further, in the same month, Align Technology inked a multi-year partnership deal with the New Orleans Saints, making the Invisalign brand the “Official Smile” partner of the Saints.
Shares of the company have gained 56.7% in the past year compared with the industry’s 10.9% growth and the S&P 500 composite’s 15.2% rise.
Zacks Rank & Key Picks
Currently, Align Technology carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are QIAGEN N.V. QGEN, Thermo Fisher Scientific Inc. TMO and Boston Scientific Corporation BSX.
QIAGEN’s long-term earnings growth rate is estimated at 17.2%. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Thermo Fisher’s long-term earnings growth rate is estimated at 15.5%. It currently sports a Zacks Rank #1.
Boston Scientific’s long-term earnings growth rate is estimated at 10%. The company presently carries a Zacks Rank #2 (Buy).
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