"Fisher & Paykel Projects 10% Growth in CPAP Mask Sales Following Strong Year"
AUCKLAND, New Zealand – Fisher & Paykel Healthcare expects to maintain about 10% growth in CPAP mask sales now that the surge in new sleep therapy patients over the past year has leveled out, says CEO Lewis Gradon.
The company had previously reported a 28% revenue increase for masks in the first half of FY 2024, driven by progress in reducing a patient backlog. However, Gradon noted they will face tougher comparisons in the second half of the year.
“We’re aiming for around 10% growth in OSA masks,” Gradon said in a financial call, adding that the actual growth might fluctuate by 1% or 2%.
F&P reported $652.3 million in revenue for its Homecare product group in FY 2024, reflecting an 18% increase, or 16% when adjusting for currency. Masks alone saw a 26% growth in the first half of the year.
This strong performance was largely driven by the success of the Evora full-face mask, which launched in the U.S. in 2022, contributing to what company officials called an “outstanding year.”
“We’re currently growing faster than the market, suggesting we’re gaining market share,” said Justin Callahan, VP of Sales and Marketing.
F&P is also optimistic about the Solo Nasal mask, an auto-adjustable mask launched in the U.S. in April, after being available in Australia for almost a year.
“It’s still early in the U.S., but the feedback has been fantastic,” Callahan said. “It’s a great product right out of the gate, and Australia continues to see positive responses since its release. We expect it to perform similarly to our other masks."
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