Align Technology, a US-based medical device manufacturer, has set its sights on expanding within China, recognizing it as a vital component of its global growth strategy. As its second-largest market after the United States, China offers unprecedented opportunities for Align Technology’s portfolio of clear aligners and intraoral digital scanners. The company has already invested $140 million in a production facility in Ziyang, Sichuan province. This facility not only serves the Chinese market but also functions as a production hub for the Asia-Pacific region, managing orders from nations such as Australia, New Zealand, Malaysia, Singapore, and Vietnam. Junho Han, the company’s vice president and managing director in China, highlights the potential for further expansion and development.
Growth Potential in China’s Orthodontic Market
China’s orthodontic market has experienced a significant boom over the last decade. By 2023, nearly 4 million individuals received orthodontic treatment, pushing the market to exceed 60 billion yuan. The vast population of China presents enormous potential for continued market expansion. A report from China Insights Consultancy forecasts that the clear aligner segment will grow from 12.1 billion yuan in 2023 to an impressive 33.5 billion yuan by 2030. This optimistic projection is driven by the nation’s economic growth and technological advancements. For multinational companies like Align Technology, harnessing this growth is not merely about accessing a large consumer base but is also about contributing to and benefiting from ongoing innovations in medical technology.
Strategic Collaboration and Innovation
Align Technology, a medical device company based in the United States, sees significant growth prospects in China, which it considers a crucial part of its global expansion strategy. As the company’s second-largest market after the US, China presents remarkable opportunities for its range of clear aligners and intraoral digital scanners. To capitalize on this, Align Technology has invested $140 million to establish a production facility in Ziyang, Sichuan province. This plant not only caters to the Chinese market but also acts as a production hub for the Asia-Pacific region. It handles orders from countries such as Australia, New Zealand, Malaysia, Singapore, and Vietnam. Junho Han, the vice president and managing director for China, emphasizes the immense potential for further growth and expansion in the region. Align Technology aims to deepen its market presence in China, leveraging its technological advancements and production capabilities to strengthen its foothold and ensure its growth in both local and regional markets.
