F&P on masks: ‘It looks like we’re taking market share’ 

AUCKLAND, New Zealand – Fisher & Paykel Healthcare’s Homecare product group helped to deliver record financial results for the first half of financial year 2025 on the back of strong performance from masks and accessories. 

Revenue for the Homecare product group increased 14% and sales of masks and accessories increased 16% for the first half. 

When asked by an analyst during a recent conference call whether F&P was taking share in the competitive mask category, CEO and Managing Director Lewis Gradon said, “We don’t have any scientific basis to make that comment, but when we look at our growth rate and any other things you can see, it looks like we’d be taking market share. (It’s) harder to say where from, but potentially a bit from everywhere will be my best guess.” 

This calendar year, F&P launched its Solo Nasal mask and Nova Micro nasal pillows masks in the United States. 

“Both masks have been met by a strong reception,” Gradon said, “and the Evora full mask (which was launched in 2022) also continues to perform strongly and that was another contributor during the half.” 

Looking at the second half of financial year 2025, Gradon said he expects similar growth for the Homecare product group. 

“I mean, we just think all the same dynamics are in place,” he said. 

When asked by an analyst for his thoughts on the incoming Trump administration and the potential for tariffs on products coming from Mexico, where F&P has a large manufacturing presence, and whether that would put the company at a disadvantage, Gradon said he didn’t want to be “drawn into that speculation.” 

“The Mexican plant for us, we see that as a fabulous asset,” he said. “It’s stock full of really committed people with a really long track record of constantly growing their efficiencies.” 

When asked to comment on the positive impact of wearable devices and GLP-1s on the funnel of patients seeking sleep therapy, something often talked about during a competitor’s earnings calls, Gradon said, “We don’t see much that you can’t, except our number and we’re a relatively small part of the number. So, we don’t really have any read on that at all.” 

• Related: In May, Gradon said he expected F&P to maintain growth of about 10% for CPAP masks.