Updated: Dec 8, 2022
Challenging the Status Quo
Its official now – Envista Holdings’ Spark™ has become the third largest clear aligner brand globally as it overtakes China-based Angelalign Technology Inc. (HKG:6699) sooner than expected.
Looking at FY 2022 performance, brand Spark‘s revenue performance has outperformed both the global clear aligner industry, as well as the category’s flagship Invisalign brand’s performance – by a significant margin. Demonstrating a sustained momentum in the last 24 months, the brand has again beaten the category, even in the face of broader economic headwinds incl. FX risks, inflationary pressure, COVID-19 lockdowns and the unpredictable geo-political situation in EU.
In our previous articles, we have already talked about how not all clear aligner brands are born equal and how Spark benefits from its sharing is pedigree with Ormco™.
In other words, there are only few clear aligner brands available in the market that offer a treatment spectrum that doesn’t only limit itself to the needs of General Dentists, but also expands to Specialized Orthodontists. Sharing its heritage with Ormco, Spark™ clear aligner brand really looks like it’s at an unstoppable path for growth for the foreseeable future – capitalizing on Ormco Damon™ customers, at least for the short-term. Not just that, Ormco’s traditional wire & brackets business continues to outgrow the market by delivering mid-single-digit growth globally.
Outlook for FY 2023
Envista Holdings continues to make long-term strategic and CAPEX investments in Spark, with the hope of expanding margins by leveraging on reaching manufacturing and automation efficiency.
insightsZ estimates that based on the brand’s YoY revenue growth performance in the last 24 months, Spark™ clear aligner could be on its way to occupy the second spot in the global clear aligner space before the end of FY 2023.
Of course, its based on the assumption that SmileDirectClub is in no position to make a comeback as the company’s stock continues to nose dive and nothing seems to working out for the company.
insightsZ continues to follow the brand revenue & margins performance of leading clear aligner brands and bring you more insights in upcoming weeks.