Fisher & Paykel Healthcare is one of the three largest respiratory care device companies globally. It is the market leader in hospital use humidifiers, masks and related consumables and the number three player in the at-home treatment of sleep apnoea using respiratory devices. Both the hospital and homecare markets for respiratory devices are growing strongly in the developed markets in which Fisher & Paykel has a presence. The company earns almost 50% of revenue in the U.S., 30% in Europe with Asia Pacific the biggest contributor to the balance. Fisher & Paykel conduct their own R&D and hold over a thousand patents with another 1,200 pending. They manufacture in New Zealand and Mexico and have a multi-channel distribution model.