Veterinary artificial insemination has improved significantly over the last three decades. Moreover, veterinary artificial insemination has come a long way as well. Although for years, the vast majority of breeding occurred by natural mating. Now, with the advanced reproduction technology at our disposal, researchers have been trying to understand animal physiology and managed to increase the odds of conception and fruitful pregnancy.
Rise in adoption of veterinary artificial insemination drives the growth of the global veterinary artificial reproduction market. However, semen contamination hinders the market growth. On the contrary, government support affecting animal health services is expected to open new opportunities for the market players in the future.
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According to the report published by Allied Market Research, the veterinary artificial reproduction industry was pegged at $1.34 billion in 2020, and is expected to reach $2.22 billion by 2030, growing at a CAGR of 5.3% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Covid-19 scenario:
Animals cannot propagate COVID-19 to humans, according to the COVID-19 pandemic. The global supply chain has been disrupted by coronavirus pandemic, resulting in a lack of animal health items such as organic feed. As a result, it may be made up of animal feed, affecting reproductive ability.
The COVID-19 pandemic has no evidence or approval that animals can spread COVID-19 to humans. The coronavirus pandemic has enfeebled supply chain and has formed a deficiency of animal health products, such as nutritional feed, across the globe. Hence, it might be comprised of animal feeding, which is expected to impact reproductive efficiency. Hence, to safeguard employees and farmers against the COVID-19, in June 2020, the Animal Husbandry Department of India launched a program. Under this program, the department offered telephonic assistance to poultry owners and farmers. In addition, artificial reproduction services were being delivered to farmers at their doorstep during the lockdown period. Thereby, such initiatives have contributed to the market growth.
- The Covid-19 pandemic disrupted the supply chain and increased the prices of raw materials.
- Moreover, the prolonged lockdown across several countries created a shortage of animal health products as nutritional feeds and vaccines across the globe.
Onkar Sumant, a Manager, Healthcare at Allied Market Research, stated, growth of the global veterinary artificial reproduction market is attributed to increase in demand for genetically superior breed of animals, which, in turn, propels demand for artificial reproduction procedures in animals.
Europe, followed by North America, to contribute the highest revenue by 2030
By region, the market across Europe held the largest share in 2020, accounting for nearly two-fifths of the market, due to rise in healthcare awareness and increase in demand for fishery and animal husbandry products. However, the market across Asia-Pacific is projected to portray the highest CAGR of 6.9% during the forecast period, due to the presence of a large livestock population in the region and rise in demand for milk and animal-based protein along with government initiatives. On the other hand, North America held the second-largest share in 2020, contributing to nearly one-third of the market.
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Major market players
- Bovine Elite LLC
- Agtech Inc.
- KRUUSE
- Zoetis Inc.
- IMV Technologies
- National Meditek
- Neogen Corporation
- Select Sires Inc.
- Swine Genetics International
- SEMEX
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