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1Economic07/11/2018 Business Model/Introduction of Align Technology, Inc.Align Technology is a global medical company founded in 1997 by Zia and Kelsey Wirth. In 1997 Align Technology started working on the development of a clear aligner. In 1998 the FDA gave Align permission to market the Invisalign system. It was first Market in 2000. Align Designs and manufactures the Invisalign system, Zia Chishti, left the company in 2004. Since then, Zia has started his own company called orthoclear, Align Tech had filed multiple federal lawsuits against OrthoClear since 2004. Align company agreed to buy orthoclear from Zia for more 20 million dollar, and Successfully forcing he company to shut down.Align is leading the world in invisible orthodromic product. The company also sells and creates things like iTero intraoral scanning systems services to dentists and orthodontics around the world. The Invisalign system operate in more than 100 countries worldwide. The Company operates in regions like Europe, Asia, Latin America.Ever since they went public, the company had done a pretty good job by growing the top and bottom line for the company. Align technology have one of the biggest advantage than most company because the company is operating in a space where it has very little competition, and their product also improves people quality of life. when ALGN tech competitor come. they came with technology that is approximal 10 years behind ALIGN. The company have 20 years of success.by 2008, ALGN has increase its research and development of spending by nearly 300% plans and invest more than $200 million in 2017.Because the company Has continued to invest on new innovation every year, ALGN tech has emerge to release one new product a year.
2Align Tech iTero Scanner has offers various amounts of services such as milling of restorative units such as crowns, implant abutments, and orthodontic workflows. Only the iTero scanner features Invisalign treatment applications. Most of Align total revenue for the first quarter this year come from the U.S., But there are also many more others all over the world whowant great teeth, great smiles, and a clean mouth. Align still has a great opportunity to continue to grow their international markets. one of the main goal for the company is to increase the percentage of the total revenue coming from European, Middle Eastern, and the African markets to more than 40 percent for the next five years. The Asian pacific region presents a golden opportunity for align market. China is currently the company’s number two global market. coming second behind the U.S. Japan will become the next Asian country in the company top five markets by 2020. The Projected annual sales growth for the company in japan is between 25to 35 percent for next couple years.