March 23, 2023, Angelalign Technology Inc. (hereinafter referred to as "Aneglalign Technology" or the "Company") released its 2022 annual results (hereinafter referred to as the "Announcement"). According to the Announcement, in 2022, Angelalign Technology achieved a total revenue of RMB 1.27 billion and a net profit of RMB 213 million, with the number of case shipments increasing to about 183,900. Facing a complex external environment in 2022, Angelalign Technology relied on nearly 20 years of experience in the invisible orthodontics industry, flexible operational strategies, and strong execution capabilities to continue maintaining a leading position in the market.
The 2022 Global and Chinese Clear Aligner Industry Blue Book released by China Insights Consultancy (CIC), shows that the size of the Chinese invisible orthodontics market was slightly reduced to RMB 12 billion in 2022 due to the impact of the pandemic and economic downturn. However, it is expected to rebound to RMB 13.7 billion in 2023. It is projected that by 2030, the size of the Chinese invisible orthodontics market will reach RMB 35.9 billion. Compared to 2021, the US invisible orthodontics market decreased by about 12% to USD 6.1 billion in the same period, and it is expected to slowly recover in 2023 with a projected compound annual growth rate of 11.6%, reaching USD 14.7 billion by 2030.
In the face of external challenges, Angelalign Technology upholds the value of "customer first" and continuously launches innovative and reliable products, technologies, and solutions around the Company's strategy, providing dentists with digital services for the entire orthodontic treatment process. At the same time, with the help of powerful intelligent manufacturing technology and flexible response mechanisms, Angelalign Technology ensures the continued stability of its production supply chain and customer service, delivering high-quality products with zero delays even during the outbreak of the pandemic.
Considering the common problem of patients delaying follow-up visits due to various unexpected situations during the orthodontic treatment process, Angelalign Technology has launched MOOELI, a digital remote solution to assist dentists and their teams in providing more accurate process monitoring and oral health management for patients.
According to the CIC report, based on the number of cases achieved, Angelalign Technology became the brand with the highest market share for invisible orthodontic products in China in 2021. In 2022, the Company further expanded its market share to 41.7%, leading the second-place brand by nearly 10 percentage points.
In 2022, Angelalign Technology accelerated its global business efforts and established a clear strategy of combining localized operations with investment and acquisition to speed up its global expansion. This approach has laid an important foundation for the sustainable development of its future business.
Regarding localization, Angelalign Technology established subsidiaries in the United States, Europe, and Australia, and built localized teams with extensive experience in the orthodontics market. Additionally, the Company brought in international talent for its headquarters' backend operations, enabling it to provide professional, timely, and effective business support to various overseas markets. Angelalign Technology has been rapidly upgrading and optimizing its various system platforms to meet the clinical needs and operating habits of doctors, and patient characteristics in different markets. By employing differentiated product strategies and medical technology service capabilities, the Company has been able to meet the demands of various countries and regions.
On October 28th, 2022, Angelalign Technology announced the acquisition of a 51% stake in Aditek, a leading orthodontic product manufacturer in Brazil. The acquisition is expected to help Angelalign Technology enter the orthodontics market in Brazil and other potential emerging markets in South America, leveraging Aditek's abundant local resources and channel network.
In addition, on January 28th, 2022, Angelalign Technology and its controlling shareholder, CareCapital Group, jointly established CareCapital Aligner Tech L.P. The Company committed to increasing its investment in the partnership from HKD 120 million to HKD 220 million on October 28th, 2022. This move aimed to further participate in cutting-edge digital technology and product investment projects related to the global orthodontics industry chain.
"The Company is committed to a strong globalization strategy." Angelalign Technology founder and CEO, Mrs. Li Huamin said, "We are committed to empowering more dentists around the world with the extensive knowledge and experience we have accumulated over the past decade in treating complex cases. Our goal is to provide high-quality products and services to dentists and patients worldwide, and to develop our global business into a new growth engine for the Company in the future."
Company: ANGELALIGN TECHNOLOGY INC.
Contact Person: Lexie Huang
Address: 7F,KIC Enterprise Center Building7, No.500 Zhengli Road, Yangpu District, Shanghai, China
This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.
Source published by Submit Press Release >> Angelalign Technology Accelerates Globalization as the Global Invisible Orthodontics Market Recovers