Aligners – The Big Market

Align Technology is a medical device provider focused on malocclusion or teeth misalignment condition. Currently, around 60%–75% of the total world population is affected by this condition.

While ten million people in developed markets seek treatment from orthodontists every year, half of them suffer from mild to moderate malocclusion, which is the target market for Align Technology’s Invisalign system. Around 100 million people in the world prefer to straighten their teeth at home using clear aligner technology. This doctor-directed home market is also a major growth opportunity for Align Technology.

In 2016, the Clear Aligner segment reported revenues of close to $958.3 million, which made up 89% of the company’s total revenues. The Clear Aligner segment’s revenues are further categorized into a comprehensive product and non-comprehensive product revenues.

Comprehensive products involve Invisalign Full, Invisalign Teen, and Invisalign Assist product lines. While Invisalign Full consists of the set of aligners required by dentists, Invisalign Teen includes additional features suitable for teenage patients.

Notably, the Core S&P Mid-Cap ETF (IJH) has about 0.67% of its total portfolio holdings in Align Technology.

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