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 Market Segments in Veterinary Artificial Insemination Industry Research
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Key Takeaways from the Market Study
Competitive Landscape
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:
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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).
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