隐形正畸需求崩塌了

氨基观察
Aug 11, 2025

一家曾主导全球细分赛道的巨头,在三年内跌去了逾80%的市值。这不是某个新兴赛道爆雷的故事,而是成熟消费医疗市场的周期切换样本。7月30日,艾利科技发布了一份不及预期的二季报,公司股价单日暴跌37%,收于129美元,创下5年来新低,相比2021年8月创下的737.4美元高点,市值蒸发超过400亿美元。作为消费医疗曾经的王者,艾利科技凭借隐形正畸产品“隐适美”(Invisalign),开创并垄断了全球...

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