Veterinary Artificial Insemination Market Report will Worth USD 5.22 Billion by 2030 at a CAGR of 6.5 % : GreyViews
Veterinary Artificial Insemination Market are Genus, Viking Genetics, URUS Group LP, CRV, SEMEX, Swine Genetics International, Select Sires Inc., Stallion AI Services Ltd, Shipley Swine Genetics, STgenetics among others.
Pune India, Feb. 16, 2023 (GLOBE NEWSWIRE) — Veterinary Artificial Insemination Market Size By Animal Type (Equine, Cattle, Swine, Ovine & Caprine, and Others), By Product (Sexed Semen and Normal Semen), By End-User (Animal Husbandry and Others), Regions, Segmentation, and forecast till 2030.
The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the veterinary artificial insemination market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the veterinary artificial insemination market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the animal type, product, end-user, and region. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.
The significant players operating in the global veterinary artificial insemination market are Genus, Viking Genetics, URUS Group LP, CRV, SEMEX, Swine Genetics International, Select Sires Inc., Stallion AI Services Ltd, Shipley Swine Genetics, STgenetics among others. To achieve a substantial market share in the worldwide veterinary artificial insemination market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Some of the primary drivers of this market include the rising need for enhanced animal efficiency and productivity, increased demand for animal protein, supportive activities by industry stakeholders, the need for sustainable food production, and the acceptance of sexed sperm in developing countries. Genus IntelliGenTM is a sexed semen technology developed by Genus that is used to develop sexed bovine genetics for Red Sindhi, Gir, Jersey, Holstein, Sahiwal Crossbreeds, and Mehsana and Murrah buffaloes in India under the ‘Sexcel’ brand. For more than 60 years, artificial insemination technology has been commercially available and has been used quite successfully in the cattle and dairy industries. Various considerations, such as the dangers associated with animal breeding and disease transmission, are driving the market growth. Increasing productivity with AI technology is driving growth in the veterinary artificial insemination market. Female offspring born via artificial insemination produce more milk than typical offspring. The use of antibiotic-containing sperm extenders is also beneficial in reducing the spread of bacterial infections. Furthermore, the entire AI operation is thought to be far more sanitary than natural mating.
Furthermore, when production conditions and farmer needs change, many animal breeds are no longer suitable for the majority of farms. However, artificial insemination is the favored reproduction method for such breeds, allowing them to be farmed in their natural environment.
Scope of Veterinary Artificial Insemination Market Report
|Market Share Unit||USD Billion|
|Segments Covered||Animal Type, Product, End-User, and Regions|
|Regions Covered||North America, Europe, Asia-Pacific, South America, and Middle-East and Africa|
|Major Players||Genus, Viking Genetics, URUS Group LP, CRV, SEMEX, Swine Genetics International, Select Sires Inc., Stallion AI Services Ltd, Shipley Swine Genetics, STgenetics among others.|
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The swine segment is expected to be the fastest-growing segment in 2022.
The animal type segment is equine, cattle, swine, ovine & caprine, and others. The swine segment is expected to witness the highest growth rate during the forecast period. This is owing to advancements in bovine and swine genetics, widespread use of AI in cow and pig reproduction in major markets, and a desire to develop self-sustaining animals. DanBred, a Danish company, uses DanBred AI to produce excellent bovine qualities. GenePro can track sperm and genetic growth in the herd to promote accountability and performance.
The sexed semen segment is expected to be the fastest-growing segment in 2022.
The product segment is sexed semen and normal semen. The sexed semen segment is expected to witness the highest growth rate during the forecast period. This is due to increased use to hasten herd expansion as well as favorable government legislation. In June 2021, the Indian government will subsidize the price of sexed sperm straws. The government and Genus ABS collaboration will benefit dairy farmers in Maharashtra, India, by cutting the price of sex-sorted sperm from USD 17.50 to USD 1.
The animal husbandry segment is expected to be the fastest-growing segment in 2022.
The end-user segment is animal husbandry and others. The animal husbandry segment is expected to witness the highest growth rate during the forecast period. The majority of sperm collection and AI activities are done on-site at breeding farms, which explains the increase. Furthermore, escalating government initiatives, technological developments, and milk and protein demand are increasing the application of AI technology.
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for veterinary artificial insemination include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
- The North America region witnessed a major share. This is owing to a well-equipped animal husbandry industry, expanded knowledge and application of artificial intelligence (AI) for livestock breeding, and the presence of key firms such as STgenetics. For example, STGenetics is a market leader in sexed sperm. For various breeds of cattle and buffaloes, the company’s Sex Sorted Semen has an average female purity of 93.0%.
Germany’s veterinary artificial insemination market size was valued at USD 0.22 billion in 2022 and is expected to reach USD 0.36 billion by 2030, at a CAGR of 6.6% from 2023 to 2030. The region’s market is being driven by increased awareness of veterinary artificial insemination and an increase in the prevalence of infectious illnesses in animals. Germany’s big cattle population accounts for its significant market share. Other factors driving market expansion in the region include increased dairy and animal-based protein consumption, as well as government initiatives.
China’s veterinary artificial insemination market size was valued at USD 0.24 billion in 2022 and is expected to reach USD 0.40 billion by 2030, at a CAGR of 6.9% from 2023 to 2030. The key drivers driving the Asia-Pacific veterinary artificial insemination market growth are rising infectious diseases in animals and greater public awareness about artificial insemination. The COVID-19 pandemic has had a significant impact on Asian countries such as China.
India’s veterinary artificial insemination market size was valued at USD 0.18 billion in 2022 and is expected to reach USD 0.30 billion by 2030, at a CAGR of 6.8% from 2023 to 2030. According to the Animal Husbandry, Dairy, and Fisheries Department 2020-2021 report, the Animal Husbandry, Dairy, and Fisheries Department in India adopted an innovative method of sexing the semen, in which the sperm responsible for the birth of male calves is sorted and destroyed, resulting in the production of only female calves.
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of the veterinary artificial insemination market is mainly driven by the rising need for animal productivity.
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