Veterinary Artificial Insemination Market Is Anticipated To Register A Positive CAGR Of 5.2% In The Forecast Period 2022-2032
A recently published Fact.MR report forecasts that the demand for veterinary artificial insemination is projected to expand at a CAGR of 5.2% in terms of value from 2022 to 2032, likely to reach US$ 5.24 Bn by end of 2032. Key factors driving market growth include increasing consumption of animal protein, growing demand for livestock productivity, and adoption of sexed semen.
From 2017 to 2021, demand for veterinary artificial insemination surged at a CAGR of 4%. During the COVID-19 pandemic, growth prospects for the market declined substantially. The enforcement of stringent lockdowns to contain the spread of the infection led to a decline in animal husbandry activities in the first half of 2020. However, as the intensity of the infections subsided, prospects have rebounded.
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Increased adoption of artificial insemination procedures in cattle, rising milk consumption, and production of beef are other factors responsible for the significant growth of the market. Furthermore, the rising consumption of milk and milk products along with the favorable government regulations, intended to improve productivity, are also leading to growth.
Key Takeaways from the Market Study
- Global veterinary artificial insemination market to be valued at US$ US$ 3.16 Bn in 2022
- U.S to be an opportunistic market, expected to accumulate 30% of the global revenue
- Asia Pacific to exhibit the highest growth rate, at a CAGR of over 7% from 2022 to 2032
- By product type, natural semen is anticipated to account for 4 out of 5 sales in 2022
- Cattle veterinary artificial insemination to comprise over 36% of the market revenue
- Animal husbandry to be the primary end user of veterinary artificial insemination, accumulating 78.1% revenue
“To fulfill the continuously increasing demand for meat and dairy products, market players are expanding artificial insemination solutions to breed high-quality livestock and enhance production. Government schemes supporting the farmers in the emerging economies are projected to drive the market through 2032”, says a Fact.MR analyst.
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Some prominent manufacturers of veterinary artificial insemination are Genus; URUS Group LP; CRV; SEMEX; Viking Genetics; Select Sires Inc.; Swine Genetics International; Shipley Swine Genetics; Stallion AI Services Ltd; and STgenetics. Frontrunners are emphasizing capacity enhancements and global footprint expansion to leverage lucrative prospects in developing economies. Some notable developments are as follows:
- In January 2022, Semex and Nedap announced the expansion of their successful partnership. The Semex ai24® program with Nedap technology is now available in more countries, enabling dairy farmers to significantly improve their herd performance and profitability.
- In September 2021, LIC- an agritech co-operative based in New Zealand launched a sexed semen lab in the country to meet the growing demand. This boosted the co-operative’s capabilities to artificially inseminate about 4.5 million cattle between Spring mating season of September to December 2021.
More Valuable Insights
In its latest report, Fact.MR offers an unbiased analysis of the veterinary artificial insemination market providing historical data for the period of 2017-2021 and forecast statistics for the period of 2022-2032.
The study gives critical insights into the veterinary artificial insemination market on the basis of Animal Type (cattle, swine, ovine & caprine and equine), product (normal semen and sexed semen) and end-user (animal husbandry & others), and across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
Key Market Segments in Veterinary Artificial Insemination Industry Research
By Animal Type
- Cattle Veterinary Artificial Insemination
- Swine Veterinary Artificial Insemination
- Ovine & Caprine Veterinary Artificial Insemination
- Equine Veterinary Artificial Insemination
- Other Animal Veterinary Artificial Insemination Types
- Normal Semen
- Sexed Semen
By End User
- Veterinary Artificial Insemination for Animal Husbandry
- Veterinary Artificial Insemination for Other End Users
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