PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1930044
PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1930044
Transplantation Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2025-2034
Growth Factors of transplantation Market
The global transplantation market comprises medical procedures and products related to the transplantation of organs and tissues, including kidneys, liver, heart, lungs, cornea, skin, bones, and tendons. Transplantation plays a critical role in saving lives affected by organ failure caused by chronic diseases, trauma, poisoning, blood loss, leukemia, sepsis, and other acute conditions. Rising demand for transplant procedures, coupled with increasing awareness and technological innovation, is significantly driving the market's growth.
Market Size and Forecast
According to Fortune Business Insights, the global transplantation market was valued at USD 11.93 billion in 2025. It is projected to grow to USD 13.01 billion in 2026 and further expand to USD 28.57 billion by 2034, registering a CAGR of 10.33% during the forecast period (2026-2034).
North America dominated the market with a 42.29% share in 2025, supported by advanced healthcare infrastructure, favorable reimbursement policies, and a high number of organ donation programs. Additionally, the U.S. transplantation market is projected to reach USD 8.54 billion by 2032, driven by increasing organ donation rates and technological advancements.
Market Drivers
A key factor driving market growth is the increasing demand for transplantation procedures worldwide. The rising prevalence of chronic conditions such as cancer, kidney failure, chronic obstructive pulmonary disease (COPD), and lupus has significantly increased organ failure cases.
For instance, according to the U.S. Health Resources & Services Administration, over 103,000 individuals were on the U.S. national organ transplant waiting list in February 2024. Furthermore, in 2023, more than 46,000 organ transplant procedures were performed in the U.S., highlighting strong procedural demand.
In addition, government and non-government initiatives promoting organ donation awareness are boosting market expansion. Organizations such as ORGAN India and the National Health Service (NHS) in the U.K. actively run campaigns encouraging donor registration, thereby increasing transplantation rates.
COVID-19 Impact
The COVID-19 pandemic negatively impacted the transplantation market, particularly during 2020, due to reduced elective procedures, strict safety guidelines, and fewer hospital visits. Transplant procedures declined globally, affecting the sales of key market players.
However, the market gradually recovered by the end of 2022, as hospital operations resumed and awareness regarding organ donation increased. Strategic research initiatives and new product launches helped the market return to its pre-pandemic growth trajectory by 2024, supporting stable growth during 2025-2032.
Market Trends
One of the major trends shaping the transplantation market is the increase in collaborations between public and private stakeholders. These collaborations aim to improve organ donation rates, enhance transplant infrastructure, and streamline donor-recipient matching processes.
For example, the Transplant Therapeutics Consortium (TTC) collaborates with industry players, academic institutions, and regulatory agencies to accelerate transplant-related innovations. Similarly, international collaborations involving organizations such as PAHO and the Government of Spain are strengthening transplant ecosystems across regions.
Growth Factors
Another significant growth driver is the advancement in tissue engineering and preservation technologies. Innovations such as 3D bioprinting, stem cell-based tissue regeneration, and xenotransplantation are addressing donor shortages and reducing rejection risks.
For instance, in June 2023, 3D BioFibR launched novel collagen-based bio-ink products for tissue and organ bioprinting. These technological advancements are expanding treatment possibilities and supporting long-term market growth.
Restraining Factors
Despite strong growth prospects, the market faces challenges due to prolonged waiting periods for transplant procedures. According to Donate Life America, one person is added to the U.S. transplant waiting list every 8 minutes, and the average waiting time for kidney transplantation ranges from 3 to 5 years.
In developing countries, limited awareness, inadequate reimbursement policies, and insufficient transplant infrastructure further restrict market growth. These factors continue to act as barriers to widespread adoption.
Segmentation Analysis
- By Product Type: The immunosuppressive drugs segment dominated the market with a 43.18% share in 2026, owing to their essential role in preventing organ rejection.
- By Application: The tissue transplantation segment held a 63.88% market share in 2026, driven by the high volume of procedures such as corneal and skin transplants.
- By End-user: Hospitals led the market with a 60.06% share in 2026, as they remain primary centers for complex transplant procedures.
Regional Insights
North America accounted for USD 5.04 billion in 2025 and continues to dominate due to advanced technologies and strong regulatory support. Europe holds the second-largest share, supported by awareness initiatives and increasing procedures. Asia Pacific is witnessing rapid growth due to rising chronic disease prevalence and improving healthcare infrastructure, particularly in China, Japan, and India.
Competitive Landscape
The market is moderately fragmented, with leading players such as Zimmer Biomet, Astellas Pharma, BioLife Solutions, Novartis AG, TransMedics, and Roche. These companies focus on product innovation, strategic partnerships, and acquisitions to strengthen their market position.
Conclusion
In conclusion, the global transplantation market is expected to grow from USD 11.93 billion in 2025 to USD 28.57 billion by 2034, driven by rising organ failure cases, increasing transplant procedures, supportive government initiatives, and continuous technological advancements. While challenges such as donor shortages and long waiting periods persist, expanding awareness programs, innovation in tissue engineering, and strong collaboration among stakeholders are expected to sustain robust market growth throughout the forecast period.
Segmentation By Product Type
- Tissue Products
- Immunosuppressive Drugs
- Preservation Solutions
By Application
- Organ Transplantation
- Tissue Transplantation
By End-user
- Hospitals
- Transplantation Centers
- Others
By Region
- North America (By Product Type, Application, End-user, and Country/Sub-Region)
- U.S. (By Application)
- Canada (By Application)
- Europe (By Product Type, Application, End-user, and Country/Sub-Region)
- Germany (By Application)
- France (By Application)
- U.K. (By Application)
- Italy (By Application)
- Spain (By Application)
- Scandinavia (By Application)
- Rest of Europe (By Application)
- Asia Pacific (By Product Type, Application, End-user, and Country/Sub-Region)
- China (By Application)
- Japan (By Application)
- India (By Application)
- Australia (By Application)
- Southeast Asia (By Application)
- Rest of Asia Pacific (By Application)
- Latin America (By Product Type, Application, End-user, and Country/Sub-Region)
- Brazil (By Application)
- Mexico (By Application)
- Rest of Latin America (By Application)
- Middle East & Africa (By Product Type, Application, End-user, and Country/Sub-Region)
- GCC (By Application)
- South Africa (By Application)
- Rest of the Middle East & Africa (By Application)
Table of Content
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Market Trends
4. Key Insights
- 4.1. Number of Major Organ Transplantation, By Key Countries, 2025
- 4.2. Key Industry Developments- Mergers, Acquisitions and Partnerships
- 4.3. Overview of Regulatory Scenario
- 4.4. Impact of COVID-19 on the Market
5. Global Transplantation Market Analysis, Insights and Forecast, 2021-2034
- 5.1. Market Analysis, Insights and Forecast - By Product Type
- 5.1.1. Tissue Products
- 5.1.2. Immunosuppressive Drugs
- 5.1.3. Preservation Solutions
- 5.2. Market Analysis, Insights and Forecast - By Application
- 5.2.1. Organ Transplantation
- 5.2.2. Tissue Transplantation
- 5.3. Market Analysis, Insights and Forecast - By End User
- 5.3.1. Hospitals
- 5.3.2. Transplantation Centers
- 5.3.3. Others
- 5.4. Market Analysis, Insights and Forecast - By Region
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Latin America
- 5.4.5. Middle East & Africa
6. North America Transplantation Market Analysis, Insights and Forecast, 2021-2034
- 6.1. Market Analysis, Insights and Forecast - By Product Type
- 6.1.1. Tissue Products
- 6.1.2. Immunosuppressive Drugs
- 6.1.3. Preservation Solutions
- 6.2. Market Analysis, Insights and Forecast - By Application
- 6.2.1. Organ Transplantation
- 6.2.2. Tissue Transplantation
- 6.3. Market Analysis, Insights and Forecast - By End User
- 6.3.1. Hospitals
- 6.3.2. Transplantation Centers
- 6.3.3. Others
- 6.4. Market Analysis, Insights and Forecast - By Country
- 6.4.1. U.S.
- 6.4.1.1. By Application
- 6.4.2. Canada
- 6.4.2.1. By Application
- 6.4.1. U.S.
7. Europe Transplantation Market Analysis, Insights and Forecast, 2021-2034
- 7.1. Market Analysis, Insights and Forecast - By Product Type
- 7.1.1. Tissue Products
- 7.1.2. Immunosuppressive Drugs
- 7.1.3. Preservation Solutions
- 7.2. Market Analysis, Insights and Forecast - By Application
- 7.2.1. Organ Transplantation
- 7.2.2. Tissue Transplantation
- 7.3. Market Analysis, Insights and Forecast - By End User
- 7.3.1. Hospitals
- 7.3.2. Transplantation Centers
- 7.3.3. Others
- 7.4. Market Analysis, Insights and Forecast - By Country/ Sub-Region
- 7.4.1. Germany
- 7.4.1.1. By Application
- 7.4.2. France
- 7.4.2.1. By Application
- 7.4.3. U.K.
- 7.4.3.1. By Application
- 7.4.4. Italy
- 7.4.4.1. By Application
- 7.4.5. Spain
- 7.4.5.1. By Application
- 7.4.6. Scandinavia
- 7.4.6.1. By Application
- 7.4.7. Rest of Europe
- 7.4.7.1. By Application
- 7.4.1. Germany
8. Asia Pacific Transplantation Market Analysis, Insights and Forecast, 2021-2034
- 8.1. Market Analysis, Insights and Forecast - By Product Type
- 8.1.1. Tissue Products
- 8.1.2. Immunosuppressive Drugs
- 8.1.3. Preservation Solutions
- 8.2. Market Analysis, Insights and Forecast - By Application
- 8.2.1. Organ Transplantation
- 8.2.2. Tissue Transplantation
- 8.3. Market Analysis, Insights and Forecast - By End User
- 8.3.1. Hospitals
- 8.3.2. Transplantation Centers
- 8.3.3. Others
- 8.4. Market Analysis, Insights and Forecast - By Country/ Sub-Region
- 8.4.1. China
- 8.4.1.1. By Application
- 8.4.2. Japan
- 8.4.2.1. By Application
- 8.4.3. India
- 8.4.3.1. By Application
- 8.4.4. Australia
- 8.4.4.1. By Application
- 8.4.5. Southeast Asia
- 8.4.5.1. By Application
- 8.4.6. Rest of Asia Pacific
- 8.4.6.1. By Application
- 8.4.1. China
9. Latin America Transplantation Market Analysis, Insights and Forecast, 2021-2034
- 9.1. Market Analysis, Insights and Forecast - By Product Type
- 9.1.1. Tissue Products
- 9.1.2. Immunosuppressive Drugs
- 9.1.3. Preservation Solutions
- 9.2. Market Analysis, Insights and Forecast - By Application
- 9.2.1. Organ Transplantation
- 9.2.2. Tissue Transplantation
- 9.3. Market Analysis, Insights and Forecast - By End User
- 9.3.1. Hospitals
- 9.3.2. Transplantation Centers
- 9.3.3. Others
- 9.4. Market Analysis, Insights and Forecast - By Country/ Sub-Region
- 9.4.1. Brazil
- 9.4.1.1. By Application
- 9.4.2. Mexico
- 9.4.2.1. By Application
- 9.4.3. Rest of Latin America
- 9.4.3.1. By Application
- 9.4.1. Brazil
10. Middle East & Africa Transplantation Market Analysis, Insights and Forecast, 2021-2034
- 10.1. Market Analysis, Insights and Forecast - By Product Type
- 10.1.1. Tissue Products
- 10.1.2. Immunosuppressive Drugs
- 10.1.3. Preservation Solutions
- 10.2. Market Analysis, Insights and Forecast - By Application
- 10.2.1. Organ Transplantation
- 10.2.2. Tissue Transplantation
- 10.3. Market Analysis, Insights and Forecast - By End User
- 10.3.1. Hospitals
- 10.3.2. Transplantation Centers
- 10.3.3. Others
- 10.4. Market Analysis, Insights and Forecast - By Country/ Sub-Region
- 10.4.1. GCC
- 10.4.1.1. By Application
- 10.4.2. South Africa
- 10.4.2.1. By Application
- 10.4.3. Rest of Middle East & Africa
- 10.4.3.1. By Application
- 10.4.1. GCC
11. Competitive Analysis
- 11.1. Global Market Share Analysis (2025)
- 11.2. Company Profiles
- 11.2.1. Novartis AG
- 11.2.1.1. Overview
- 11.2.1.2. Products & services
- 11.2.1.3. SWOT Analysis
- 11.2.1.4. Recent Developments
- 11.2.1.5. Strategies
- 11.2.1.6. Financials (Based on Availability)
- 11.2.2. Teva Pharmaceutical Industries Ltd.
- 11.2.2.1. Overview
- 11.2.2.2. Products & services
- 11.2.2.3. SWOT Analysis
- 11.2.2.4. Recent Developments
- 11.2.2.5. Strategies
- 11.2.2.6. Financials (Based on Availability)
- 11.2.3. Arthrex, Inc.
- 11.2.3.1. Overview
- 11.2.3.2. Products & services
- 11.2.3.3. SWOT Analysis
- 11.2.3.4. Recent Developments
- 11.2.3.5. Strategies
- 11.2.3.6. Financials (Based on Availability)
- 11.2.4. Veloxis Pharmaceuticals, Inc. (Asahi Kasei Corporation)
- 11.2.4.1. Overview
- 11.2.4.2. Products & services
- 11.2.4.3. SWOT Analysis
- 11.2.4.4. Recent Developments
- 11.2.4.5. Strategies
- 11.2.4.6. Financials (Based on Availability)
- 11.2.5. BioLife Solutions
- 11.2.5.1. Overview
- 11.2.5.2. Products & services
- 11.2.5.3. SWOT Analysis
- 11.2.5.4. Recent Developments
- 11.2.5.5. Strategies
- 11.2.5.6. Financials (Based on Availability)
- 11.2.6. TransMedics
- 11.2.6.1. Overview
- 11.2.6.2. Products & services
- 11.2.6.3. SWOT Analysis
- 11.2.6.4. Recent Developments
- 11.2.6.5. Strategies
- 11.2.6.6. Financials (Based on Availability)
- 11.2.7. F. Hoffmann-La Roche Ltd
- 11.2.7.1. Overview
- 11.2.7.2. Products & services
- 11.2.7.3. SWOT Analysis
- 11.2.7.4. Recent Developments
- 11.2.7.5. Strategies
- 11.2.7.6. Financials (Based on Availability)
- 11.2.8. Zimmer Biomet
- 11.2.8.1. Overview
- 11.2.8.2. Products & services
- 11.2.8.3. SWOT Analysis
- 11.2.8.4. Recent Developments
- 11.2.8.5. Strategies
- 11.2.8.6. Financials (Based on Availability)
- 11.2.9. Astellas Pharma Inc.
- 11.2.9.1. Overview
- 11.2.9.2. Products & services
- 11.2.9.3. SWOT Analysis
- 11.2.9.4. Recent Developments
- 11.2.9.5. Strategies
- 11.2.9.6. Financials (Based on Availability)
- 11.2.1. Novartis AG
List of Tables
- Table 01: Global Transplantation Market Revenue (USD billion) Forecast, By Product Type, 2021-2034
- Table 02: Global Transplantation Market Revenue (USD billion) Forecast, By Application, 2021-2034
- Table 03: Global Transplantation Market Revenue (USD billion) Forecast, By End-user, 2021-2034
- Table 04: Global Transplantation Market Revenue (USD billion) Forecast, By Region, 2021-2034
- Table 05: North America Transplantation Market Revenue (USD billion) Forecast, By Product Type, 2021-2034
- Table 06: North America Transplantation Market Revenue (USD billion) Forecast, By Application, 2021-2034
- Table 07: North America Transplantation Market Revenue (USD billion) Forecast, By End-user, 2021-2034
- Table 08: North America Transplantation Market Revenue (USD billion) Forecast, By Country, 2021-2034
- Table 09: U.S. Transplantation Market Revenue (USD billion) Forecast, By Application, 2021-2034
- Table 10: Canada Transplantation Market Revenue (USD billion) Forecast, By Application, 2021-2034
- Table 11: Europe Transplantation Market Revenue (USD billion) Forecast, By Product Type, 2021-2034
- Table 12: Europe Transplantation Market Revenue (USD billion) Forecast, By Application, 2021-2034
- Table 13: Europe Transplantation Market Revenue (USD billion) Forecast, By End-user, 2021-2034
- Table 14: Europe Transplantation Market Revenue (USD billion) Forecast, By Country/ Sub-Region, 2021-2034
- Table 15: Germany Transplantation Market Revenue (USD billion) Forecast, By Application, 2021-2034
- Table 16: France Transplantation Market Revenue (USD billion) Forecast, By Application, 2021-2034
- Table 17: U.K. Transplantation Market Revenue (USD billion) Forecast, By Application, 2021-2034
- Table 18: Italy Transplantation Market Revenue (USD billion) Forecast, By Application, 2021-2034
- Table 19: Spain Transplantation Market Revenue (USD billion) Forecast, By Application, 2021-2034
- Table 20: Scandinavia Transplantation Market Revenue (USD billion) Forecast, By Application, 2021-2034
- Table 21: Rest of Europe Transplantation Market Revenue (USD billion) Forecast, By Application, 2021-2034
- Table 22: Asia Pacific Transplantation Market Revenue (USD billion) Forecast, By Product Type, 2021-2034
- Table 23: Asia Pacific Transplantation Market Revenue (USD billion) Forecast, By Application, 2021-2034
- Table 24: Asia Pacific Transplantation Market Revenue (USD billion) Forecast, By End-user, 2021-2034
- Table 25: Asia Pacific Transplantation Market Revenue (USD billion) Forecast, By Country/ Sub-Region, 2021-2034
- Table 26: China Transplantation Market Revenue (USD billion) Forecast, By Application, 2021-2034
- Table 27: Japan Transplantation Market Revenue (USD billion) Forecast, By Application, 2021-2034
- Table 28: India Transplantation Market Revenue (USD billion) Forecast, By Application, 2021-2034
- Table 29: Australia Transplantation Market Revenue (USD billion) Forecast, By Application, 2021-2034
- Table 30: Southeast Asia Transplantation Market Revenue (USD billion) Forecast, By Application, 2021-2034
- Table 31: Rest of Asia-Pacific Transplantation Market Revenue (USD billion) Forecast, By Application, 2021-2034
- Table 32: Latin America Transplantation Market Revenue (USD billion) Forecast, By Product Type, 2021-2034
- Table 33: Latin America Transplantation Market Revenue (USD billion) Forecast, By Application, 2021-2034
- Table 34: Latin America Transplantation Market Revenue (USD billion) Forecast, By End-user, 2021-2034
- Table 35: Latin America Transplantation Market Revenue (USD billion) Forecast, By Country/ Sub-Region, 2021-2034
- Table 36: Brazil Transplantation Market Revenue (USD billion) Forecast, By Application, 2021-2034
- Table 37: Mexico Transplantation Market Revenue (USD billion) Forecast, By Application, 2021-2034
- Table 38: Rest of Latin America Transplantation Market Revenue (USD billion) Forecast, By Application, 2021-2034
- Table 39: Middle East & Africa Transplantation Market Revenue (USD billion) Forecast, By Product Type, 2021-2034
- Table 40: Middle East & Africa Transplantation Market Revenue (USD billion) Forecast, By Application, 2021-2034
- Table 41: Middle East & Africa Transplantation Market Revenue (USD billion) Forecast, By End-user, 2021-2034
- Table 42: Middle East & Africa Transplantation Market Revenue (USD billion) Forecast, By Country/ Sub-Region, 2021-2034
- Table 43: GCC Transplantation Market Revenue (USD billion) Forecast, By Application, 2021-2034
- Table 44: South Africa Transplantation Market Revenue (USD billion) Forecast, By Application, 2021-2034
- Table 45: Rest of Middle East & Africa Transplantation Market Revenue (USD billion) Forecast, By Application, 2021-2034
List of Figures
- Figure 01: Global Transplantation Market Revenue Breakdown (USD billion, %) By Region, 2025 & 2034
- Figure 02: Global Transplantation Market Value Share (%), By Product Type, 2025 & 2034
- Figure 03: Global Transplantation Market Value Share (%), By Application, 2025 & 2034
- Figure 04: Global Transplantation Market Value Share (%), By End-user, 2025 & 2034
- Figure 05: Global Transplantation Market Value Share (%), By Region, 2025 & 2034
- Figure 06: North America Transplantation Market Value (USD billion), By Product Type, 2025 & 2034
- Figure 07: North America Transplantation Market Value Share (%), By Product Type, 2025
- Figure 08: North America Transplantation Market Value (USD billion), By Application, 2025 & 2034
- Figure 09: North America Transplantation Market Value Share (%), By Application, 2025
- Figure 10: North America Transplantation Market Value (USD billion), By End-user, 2025 & 2034
- Figure 11: North America Transplantation Market Value Share (%), By End-user, 2025
- Figure 12: North America Transplantation Market Value (USD billion), By Country, 2025 & 2034
- Figure 13: North America Transplantation Market Value Share (%), By Country, 2025
- Figure 14: Europe Transplantation Market Value (USD billion), By Product Type, 2025 & 2034
- Figure 15: Europe Transplantation Market Value Share (%), By Product Type, 2025
- Figure 16: Europe Transplantation Market Value (USD billion), By Application, 2025 & 2034
- Figure 17: Europe Transplantation Market Value Share (%), By Application, 2025
- Figure 18: Europe Transplantation Market Value (USD billion), By End-user, 2025 & 2034
- Figure 19: Europe Transplantation Market Value Share (%), By End-user, 2025
- Figure 20: Europe Transplantation Market Value (USD billion), By Country/Sub-Region, 2025 & 2034
- Figure 21: Europe Transplantation Market Value Share (%), By Country/Sub-Region, 2025
- Figure 22: Asia Pacific Transplantation Market Value (USD billion), By Product Type, 2025 & 2034
- Figure 23: Asia Pacific Transplantation Market Value Share (%), By Product Type, 2025
- Figure 24: Asia Pacific Transplantation Market Value (USD billion), By Application, 2025 & 2034
- Figure 25: Asia Pacific Transplantation Market Value Share (%), By Application, 2025
- Figure 26: Asia Pacific Transplantation Market Value (USD billion), By End-user, 2025 & 2034
- Figure 27: Asia Pacific Transplantation Market Value Share (%), By End-user, 2025
- Figure 28: Asia Pacific Transplantation Market Value (USD billion), By Country/ Sub-Region, 2025 & 2034
- Figure 29: Asia Pacific Transplantation Market Value Share (%), By Country/ Sub-Region, 2025
- Figure 30: Latin America Transplantation Market Value (USD billion), By Product Type, 2025 & 2034
- Figure 31: Latin America Transplantation Market Value Share (%), By Product Type, 2025
- Figure 32: Latin America Transplantation Market Value (USD billion), By Application, 2025 & 2034
- Figure 33: Latin America Transplantation Market Value Share (%), By Application, 2025
- Figure 34: Latin America Transplantation Market Value (USD billion), By End-user, 2025 & 2034
- Figure 35: Latin America Transplantation Market Value Share (%), By End-user, 2025
- Figure 36: Latin America Transplantation Market Value (USD billion), By Country/ Sub-Region, 2025 & 2034
- Figure 37: Latin America Transplantation Market Value Share (%), By Country/ Sub-Region, 2025
- Figure 38: Middle East & Africa Transplantation Market Value (USD billion), By Product Type, 2025 & 2034
- Figure 39: Middle East & Africa Transplantation Market Value Share (%), By Product Type, 2025
- Figure 40: Middle East & Africa Transplantation Market Value (USD billion), By Application, 2025 & 2034
- Figure 41: Middle East & Africa Transplantation Market Value Share (%), By Application, 2025
- Figure 42: Middle East & Africa Transplantation Market Value (USD billion), By End-user, 2025 & 2034
- Figure 43: Middle East & Africa Transplantation Market Value Share (%), By End-user, 2025
- Figure 44: Middle East & Africa Transplantation Market Value (USD billion), By Country/ Sub-Region, 2025 & 2034
- Figure 45: Middle East & Africa Transplantation Market Value Share (%), By Country/ Sub-Region, 2025
- Figure 46: Global Transplantation Market Share Analysi (%), By Company, 2025
