F&P sees steadier growth for CPAP masks 

AUCKLAND, New Zealand – Now that the step-up in patient starts for sleep therapy has “probably washed through the previous year,” Fisher & Paykel Healthcare expects to maintain CPAP mask growth of about 10%, says CEO Lewis Gradon. 

The company previously reported a 28% increase in revenue in constant currency terms for masks in the first half of financial year 2024, benefitting from significant progress in reducing a backlog of patients seeking therapy, but Gradon previously noted it faced tougher comps in the second half of the year. 

“We’re thinking of a midpoint guidance of maintaining OSA mask growth around the 10% mark,” Gradon said in a conference call to discuss financial results for the 2024 financial year. “I think the total swing around that – you might be talking 1% or 2% top end, lower end, something like that.” 

F&P reported revenue of $652.3 million for its Homecare product group for the 2024 financial year, an 18% increase or 16% in constant currency terms. It reported a 26% increase in the first half of the year. 

The company’s revenue for masks continues to be buoyed by good uptake on its Evora full-face mask, which launched in the United States in 2022, resulting in an “outstanding year” for masks, company officials said. 

“We’re growing above market growth rates at the moment, which implies market share gains,” said Justin Callahan, vice president of sales and marketing. 

F&P also expects good uptake on the Solo Nasal, an auto adjustable mask launched in the United States in April. The mask has been available in Australia for almost a year already. 

“So, obviously, it's early days in the U.S., but the feedback has been tremendous,” Callahan said. “(It’s) well received by the customer. It's a good product out the gate. And in Australia, they've continued to get good feedback since the release. We see it performing (similar to) what we have with our other masks.”