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Tuesday, June 6, 2023

Align Technology Inc. (NASDAQ: ALGN) declined in the Current Market; Here is the reason

Align Technology Inc. (NASDAQ: ALGN) stock is declining in the current market with no news. ALGN stock is trading at $372.95, losing more than 2.5% from the previous close. ALGN stock previously closed at $383.63 with a trading volume of $756.2K shares.

Global Orthodontics Market Overview

Align Technology is involved in producing devices such as 3D digital scanners and aesthetic dentistry products in the orthodontics market. Due to covid-19, this marker saw a considerable decline. But after the pandemic, the market is now regaining.

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The global orthodontics market size was around $4.7 Billion in 2020. The reason was due to the restriction of people to their homes, and they are more concerned about their health than some aesthetics related to dentistry. The market is regaining now and was worth around $5.3 Billion in 2021. According to estimates, the global orthodontics market size will be around $16.3 billion in 2028, with a compound annual growth rate of 17.2%.

ALGN: Recent Updates

Dentists can now visualize a patient’s roots during the digital treatment planning process, thanks to a new Cone Beam Computed Tomography (CBCT) integration feature recently introduced by Align Technology Inc. (NASDAQ: ALGN).

ClinCheck digital treatment planning software is a user-friendly tool that combines roots, bone, and crowns into a single three-dimensional model that allows doctors to visualize a patient’s roots during the digital treatment planning process. When combined with Invisalign clear aligners, the CBCT integration feature will enable doctors to expand diagnosis and treat a broader range of cases confidently. This is accomplished by increasing visibility and controlling a patient’s underlying anatomical structures during the digital treatment planning procedure.

It is now in the evaluation process for technical design (TDA). It will be implemented in stages throughout our client base, beginning with the second half of 2022.

ALGN: Upcoming Events

ALGN announced on April 5, 2022, that they would release their results for the first quarter of 2022 on Wednesday, April 27, 2022. The company will announce results when the market closes on April 27, 2022. Its management will host a conference call to discuss the corporate updates with investors. The company will release Financial results at 4:00 p.m. EST/ 1:00 p.m. PST. The timings of the conference call are 4:30 p.m. EST/ 1:30 p.m. PST.

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