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Align Technology (ALGN) Launches New Features in iTero Family

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Align Technology, Inc. (ALGN - Free Report) recently released its new iTero Workflow 2.0 software packed with advanced features such as faster scanning, enhanced intraoral visualization and improved patient communication tools. These features are expected to drive innovation in digital orthodontics and restorative dentistry by advancing practice efficiency, clinical diagnosis, patient engagement and ensure seamless end-to-end digital treatment experience for doctors and patients.

The company has also announced the new iTero Element 5D Imaging system auto-upload functionality which will be available in the third quarter of 2021. The new functionality is said to streamline Invisalign case submissions with intraoral color scan images, an efficient replacement to traditional intraoral photos. For investors’ note, the iTero Element 5D imaging system includes iTero Element 5D and iTero Element 5D Plus series scanners.

More About iTero Workflow’s New Features

The latest iTero Workflow 2.0 software features allow faster all-in-one scan with 20% less processing time on the iTero Element Plus Series scanners, 50% faster movement and 25% faster rotation on all iTero Element scanners. The iTero Element 5D Plus imaging system’s integrated 3D intraoral camera, armed with advanced AI capabilities, automatically takes multiple intraoral images from different angles in just one scan. Patient communication tools like the new Snapshot tool and iTero Scan Report enable doctors to share information such as Invisalign Outcome Simulator projections with patients digitally, to help them make confident decisions concerning higher treatment acceptance.

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The new software features are anticipated to be available in markets catering to iTero Element Plus imaging systems by the end of the second quarter of 2021.

More on iTero Element 5D Imaging System’s New Feature

The iTero Element 5D imaging system’s latest functionality enables doctors to automatically upload the five images prescribed in the Invisalign Doctor Site (IDS) with 2D color scan photos taken by the integrated intraoral camera.

Industry Prospects

Per a report by Technavio published in PR Newswire, the global 3D dental scanners market is expected to see a CAGR of almost 12% during 2021-2025.Factors like lower prices of dental scanners, increasing availability of low-cost quality dental scanners and technological advances and innovations are fueling growth in the 3D dental scanners market. The introduction of cost-saving and highly accurate digital impressions via 3D scanners is expected to drive market growth further.

Given the high market potential, Align Technology’s latest software developments seem well-timed.

Recent Developments

In April, Align Technology and DECA Dental Group extended their multi-year agreement concerning the Invisalign system through early 2025. In addition to access to customized clinical education for the Invisalign system, the contract includes extended use of iTero Element 5D imaging system to support DECA Dental doctors and clinical support team members across DECA Dental Group’s U.S. facilities to adopt new workflows.

In the same month, Align Technology announced plans to open a new manufacturing facility in Poland during early 2022. The new facility is intended to address the underutilized market opportunity in the Europe, Middle East and Africa (EMEA) region by bringing its operational facilities, such as the Invisalign system, to dentists and orthodontists in the EMEA region.

In February, the company announced the availability of iTero Element Plus Series, the newest addition to iTero Element family of scanners and imaging systems. The iTero Element Plus Series exhibits a sleek, ergonomic design that enables seamless scanning experience through improved visualization, flexibility, mobility and faster processing time.

Share Price Performance

The stock has underperformed its industry over the past year. It has grown 100.9% compared with the industry’s 19.5% growth.

Zacks Rank and Key Picks

Currently, Align Technology carries a Zacks Rank #3 (Hold).

A few better-ranked stocks from the Medical-Dental Supplies industry include Henry Schein, Inc. (HSIC - Free Report) , CONMED Corporation (CNMD - Free Report) and West Pharmaceutical Services, Inc. (WST - Free Report) , each sporting a Zacks Rank #2 (Buy).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Henry Schein has a long-term earnings growth rate of 11.20%.

CONMED has a long-term earnings growth rate of 9.90%.

West Pharmaceutical has a long-term earnings growth rate of 25.80%.

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