Fisher & Paykel Healthcare is one of the three largest respiratory care device companies globally. It is the market leader in hospital use of humidifiers, masks, and related consumables, and the number three player in the at-home treatment of sleep apnea 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 roughly half of its revenue in North America, around a quarter in Europe, and approximately a fifth in Asia-Pacific. Fisher conducts its own R&D and has thousands of patents and pending applications. It manufactures in New Zealand, Mexico, and China, and has a multichannel distribution model.