The rising venereal diseases in animals and growing awareness among humans about artificial insemination is driving the demand for the market.
Market Size – USD 3.82 billion in 2019, Market Growth – CAGR of 5.8%, Market Trends – Increased Animal Husbandry.
The Global Veterinary Artificial Insemination market is anticipated to reach USD 5.94 billion by 2027, according to a new report by Reports and Data. The Artificial Insemination Market (AI) is expected to see a rise in demand due to increased animal protein consumption and increased demand for high cattle productivity & milk yields. Market players are introducing artificial insemination to meet the ever-increasing demand to breed high-quality livestock and increase efficiency. Demand has increased over the years, owing to the growing prevalence of various animal diseases, such as zoonotic diseases, and the increasing adoption of animals that follow them.
According to the 2019 publication of the Food and Agriculture Organization (FAO), livestock accounted for approximately 40 % of the global value of agricultural production in developed countries and 20% in developing countries, providing food security and livelihood for more than 1.3 billion people worldwide. Favorable government regulations aimed at increasing productivity often contribute to growth; for example, in 2018 the Indian government authorized an Agriculture Export Policy to boost the nation’s agricultural economic growth. The new strategy aims to raise India’s agricultural production to USD 60 billion by 2022 and USD 100 billion in the next few years with a stable foreign-policy system.
The industry meets the guidelines set by the International Artificial Insemination Society (ISAG) and leading laboratories for animal science, such as Davis University of California (U.C. Davis). The standard ISAG panel consists of 18 STR markers, and every artificial insemination business needs to adopt the panel and norm set by the authority. Nevertheless, increasing populations are expected to pose a continuous challenge to food supply and animal protein requirement, boosting demand development.
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Further key findings from the report suggest
- Given the rising consumption of milk and its products in Asian countries, the cattle segment was the largest revenue-generating segment in 2019.
- The usual semen segment represented the largest share of revenue in the drug category in 2019, due to the low cost of the procedure.
- The animal husbandry accounts for the largest share in the end-user segment and is expected to retain its predominance over the forecast period. The increase can be attributed to the maximum number of procedures for collecting semen conducted under such facilities.
- Use of sexed semen is expected to display the highest growth over the forecast period.
- Asia Pacific was the region’s leading sector and accounts for the largest share of revenue in 2019 mainly due to the region’s high cattle population.
- In May 2019, Genus plc partnered with the China based Beijing Capital Agribusiness (BCA). BCA is intended to help the organization grow reproductive and respiratory syndrome virus (PrRVS)–resistant animals in proprietary technology applications.
Key players in the market include
Select Sires, Inc., Swine Genetics International, SEMEX, Zoetis, Cooperative Resource International (GENEX), Cogent, Viking Genetics, Genus plc, Polar Genetics India, and Fox Fire Farm, among others.
For a better understanding of the global Veterinary Artificial Insemination market dynamics, a regional analysis of the market across key geographical areas is offered in the report. The market is spread across key geographical regions such as North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Each region is analysed on the basis of the market scenario in the major countries of the regions to provide a deeper understanding of the market. It provides insights into production and consumption patterns, supply and demand ratio, export/import, current and emerging trends and demands, market share, market size, revenue contribution, and presence of key players in each region.
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In-depth regional analysis includes:
- North America (U.S., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of EU)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Furthermore, the report segments Veterinary Artificial Insemination market on the basis of key product types and applications and provides details about the revenue growth, revenue CAGR, and revenue share each segment is expected to register over the forecast period.
Product Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Normal Semen
- Sexed Semen
Animal Type Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
End-Use Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Veterinary Hospitals
- Animal Husbandry
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Benefits of the Global Veterinary Artificial Insemination Report:
- Comprehensive analysis of the opportunities and risks of the Veterinary Artificial Insemination market
- Detailed study of the latest product and technological developments and innovations of the Veterinary Artificial Insemination market
- Business strategies and plans are analysed for understanding the Veterinary Artificial Insemination market scenario
- Revenue forecast of Veterinary Artificial Insemination market for the forecast period 2020-2027
- Comprehensive analysis of the drivers, constraints, limitations, challenges, and opportunities
- Latest and emerging market trends analysis and their impact on product and application demand
- Study of recent M&A, joint ventures, collaborations, partnerships, product launches and brand promotions among others
- Extensive SWOT analysis and Porter’s Five Forces analysis along with investment return analysis and feasibility
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