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The rising venereal diseases in animals and growing awareness among humans about artificial insemination is driving the demand for the market
NEW YORK, NY, UNITED STATES, November 26, 2021 /EINPresswire.com / -- The Global Veterinary Artificial Insemination market is anticipated to reach USD 5.94 billion by 2027, according to a new report by Reports and Data. The Artificial Insemination Market (AI) is expected to see a rise in demand due to increased animal protein consumption and increased demand for high cattle productivity & milk yields. Market players are introducing artificial insemination to meet the ever-increasing demand to breed high-quality livestock and increase efficiency. Demand has increased over the years, owing to the growing prevalence of various animal diseases, such as zoonotic diseases, and the increasing adoption of animals that follow them.
According to the 2019 publication of the Food and Agriculture Organization (FAO), livestock accounted for approximately 40 % of the global value of agricultural production in developed countries and 20% in developing countries, providing food security and livelihood for more than 1.3 billion people worldwide. Favorable government regulations aimed at increasing productivity often contribute to growth; for example, in 2018 the Indian government authorized an Agriculture Export Policy to boost the nation's agricultural economic growth. The new strategy aims to raise India's agricultural production to USD 60 billion by 2022 and USD 100 billion in the next few years with a stable foreign-policy system.
The industry meets the guidelines set by the International Artificial Insemination Society (ISAG) and leading laboratories for animal science, such as Davis University of California (U.C. Davis). The standard ISAG panel consists of 18 STR markers, and every artificial insemination business needs to adopt the panel and norm set by the authority. Nevertheless, increasing populations are expected to pose a continuous challenge to food supply and animal protein requirement, boosting demand development.
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COVID-19 Impact:
It is expected that the COVID-19 pandemic would affect corporate growth. In the aftermath of the COVID 19 pandemic, large companies have announced output suspension as a result of reduced demand and supply chains and their workers being safeguarded. Demand for solutions is expected to go down by 2020. Farmers can adjust demand so they can prevent bottlenecks. Tier 1 players agree that progress is unlikely to restart in the near future due to the serious pandemic in the remaining quarter of 2020, in particular in the United States and major European countries.
Leading companies operating in the market and profiled in the report include:
Select Sires, Inc., Swine Genetics International, SEMEX, Zoetis, Cooperative Resource International (GENEX), Cogent, Viking Genetics, Genus plc, Polar Genetics India, and Fox Fire Farm, among others.
Market Overview:
The pharmaceutical and healthcare sector is rapidly expanding in terms of revenue in the recent years and is expected to register robust CAGR over the forecast period of 2028. Factors such as rapid advancements in the pharma and healthcare sector, adoption of latest technologies, tools and equipment, emergence of various new diseases and improvements in healthcare facilities and infrastructure. In addition, rising healthcare expenditure, increasing per capita income in the developing countries and favorable reimbursement policies are fueling market growth. Increasing funds by various public and private sectors and increasing investments to develop enhanced products and devices are also boosting market growth. Moreover, increasing preference for ambulatory services and point of care services, and increasing funds for research centers and hospitals for drug discovery is expected to fuel market growth going ahead.
Competitive Landscape:
The report provides details about competitive landscape of global Veterinary Artificial Insemination market focusing on every market player, its global position, revenue generation product portfolio, company overview, financial planning and business expansion plans. The global Veterinary Artificial Insemination market is quite competitive and comprises various key players at global and regional levels. Key players are investing in research and development activities, and strategizing various plans such as mergers and acquisitions, partnerships, joint ventures, new product launches, to enhance their product base and strengthen their market position.
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Further key findings from the report suggest
•Given the rising consumption of milk and its products in Asian countries, the cattle segment was the largest revenue-generating segment in 2019.
•The usual semen segment represented the largest share of revenue in the drug category in 2019, due to the low cost of the procedure.
•The animal husbandry accounts for the largest share in the end-user segment and is expected to retain its predominance over the forecast period. The increase can be attributed to the maximum number of procedures for collecting semen conducted under such facilities.
•Use of sexed semen is expected to display the highest growth over the forecast period.
•Asia Pacific was the region's leading sector and accounts for the largest share of revenue in 2019 mainly due to the region's high cattle population.
•In May 2019, Genus plc partnered with the China based Beijing Capital Agribusiness (BCA). BCA is intended to help the organization grow reproductive and respiratory syndrome virus (PrRVS)–resistant animals in proprietary technology applications.
For the purpose of this study, Reports and Data have segmented the Veterinary Artificial Insemination market on the basis of Product, Therapeutic Application, End-Use, and region:
Product Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
•Normal Semen
•Sexed Semen
Animal Type Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
•Cattle
•Swine
•Sheep
•Canine
•Equine
•Others
End-Use Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
•Veterinary Hospitals
•Animal Husbandry
•Others
Regional Outlook:
•North America (U.S., Canada, Mexico)
•Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
•Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
•Latin America (Brazil, Rest of LATAM)
•Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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