Impact of Covid-19 Global Clear Aligners Market
The COVID-19 epidemic has been straining healthcare workflow across the globe. The disease has forced various industries to temporary shut its doors including many healthcare subdomains. Clear aligners have been one of the major markets that has been negatively impacted by COVID-19. The production for clear aligners has been disrupted across the globe. COVID-19 has forced various dentists to slash their services and staff resulting in delay in large number of appointments which is leading to increasing complications. Also, various events with respect to dental and clear aligners have been suspended. These events were supposed to be conducted in accordance to increase awareness and improve revenue for clear aligners. The company exocad, recently acquired by Align Technology, announced that its Insights 2020 event would be delayed to September 2020. Furthermore, the third congress of the European Aligner Society, which was supposed to be held in Malta from 19 to 21 March 2020, has been shifted to November 2020. The aim of this event was to introduce advances in technologies and techniques in aligner orthodontics and also major opportunity for various large manufacturers to enter into strategic alliances.
The company Align Technology, one of the leading players, accounts for more than 70% of the market share across the globe is also facing challenges in generating revenue due to COVID-19. In March, the company’s stock fell down by 20%. The analysis shows that the major reason for this was the lockdown in China where the company generated 8% of its entire revenue. The outcome of this lockdown is expected a $30 million to $35 million hit on revenue for the first quarter alone.
2020 Quarterly Impact and Progress:
As far as end of second quarter, in countries such as China South Korea, Japan, and India, quarantine and pandemic situation is improving and showing obvious signs of recovery. It is also expected that various practitioners will start their service by implementing international and local guidance by the end of second quarter. Also, the North American and European countries are expected to steadily resume dental services by following guidelines. Moreover, by the end of third-quarter majority of the production for clear aligners is anticipated to resume normally. By the end of 2020, the companies are expected to double the production as majority of the patients are on hold and they all would require treatment.