Animal Artificial Insemination Market Forecast to 2029 – COVID-19 Impact and Global Analysis By Product, Genetic Material, and Services and Geography
Major market players are implementing artificial insemination to enhance production and breed high-quality livestock to fulfil the incessant growing demand. Animal Artificial Insemination Market Players are Investing Huge in Animal Clinics would Fortify their Market Hold
The global demand for animal artificial insemination market is anticipated to reflect for a strong CAGR over the projected period (2019-2029). Growing investments in artificial insemination procedures for ruminants and canine are chiefly fuelling market growth. Numerous novel product launches and launch of novel methodologies would remain influential to market build-up.
“Increasing implementation of advanced semen sexing technologies for dairy farming, aquaculture, and animal breeding is likely to bolster market growth.” comments the FMI analyst.
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Animal Artificial Insemination Market – Key Highlights
- East Asia will remain lucrative in the global market in revenue terms over the assessment period.
- Reagent media will account for one-fourth of market revenue share due to its widespread usage amid the procedures for semen cryopreservation and embryo transfer.
- Animal hospitals end user segment reflects notable market value share trailed by animal clinics.
- Insemination procedures are likely to gain momentum in the global market.
Animal Artificial Insemination Market – Drivers
- Growing awareness concerning zoonotic diseases and food security has been contributing towards growth in the healthcare industry particularly in East Asia, which supports the overall market growth.
- A sizeable customer population continues to opt animal derived protein, which remains a noteworthy prospects in the global market.
- Dairy farmers aims to producing genetically better breeds for huge-scale dairy products productions in the market will encourage growth.
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Animal Artificial Insemination Market – Restraints
- Chances of infectious disease transmission or semen contamination because of viral infections are the huge risk factors projected to hamper the market growth.
- Strong selection of ideal parent for animal breeding via artificial insemination might limit the genetic variation which might restrain market expansion.
COVID-19 Impact on the Market
The unexpected COVID-19 outbreak has repositioned the world’s focus towards the healthcare industry. National governments are watchfully functioning with pharmaceutical companies and healthcare institutions to offer efficient treatment to patients suffering with the infection. This is impacted the growth of the animal artificial insemination market amid the pandemic period. However, the market is slated to recover gradually by the end of 2021 or beginning of 2022.
Prominent market players are focusing on acquisitions and consolidation to generate a sturdy regional distribution presence as direct sales force as well as local artificial insemination product producing facilities. Major companies functioning in the global market include Merck KGaA (Merck Animal Health) , Revival Animal Health, Swine Genetics, Zoetis, Jorgensen Labs, Elanco Animal Health, Boehringer Ingelheim International GmbH, Agtech, Inc., IMV Technologies Group, Continental Plastic Corporation, and ABS Global, Inc.
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Global Veterinary Artificial Insemination Market: Notable Development
Active measures taken by prominent players in the global veterinary artificial insemination market are leading to some notable developments in the vendor landscape in terms of level of competition, and how it would operate going forward. A glimpse is provided below:
2018: Genetic evaluation capabilities of Neogen were improved once it acquired Livestock Genetic Services. In the same year, Genus ABS’s sales increased by 25% after it launched Sexcel in 2017. This is set to increase competition in the market
About the Study
The study offers readers a comprehensive assessment of the Animal Artificial Insemination market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights based on product type (insemination equipment, artificial insemination syringes, insemination sheaths, artificial insemination applicator, thawers, accessories, artificial insemination kits, artificial insemination straws, reagent media and others), procedure type (semen collection procedures and insemination procedures), animal type (canine, feline, swine, bovine, equine, and ruminant), end user (animal hospitals, animal clinics, animal breeding centers, and others), across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
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