Veterinary Artificial Reproduction Market To Hit 2.22 Billion By 2030, Growing At A CAGR Of 5.30% From 2022-2030

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Veterinary Artificial Reproduction Market

Growth of the global veterinary artificial reproduction market is attributed to increase in demand for genetically superior breed of animals.

PORTLAND, OREGON, UNITED STATES, July 11, 2022 /EINPresswire.com / -- According to the report published by Allied Market Research, the global veterinary artificial reproduction market was valued at $1,349.4 million in 2020, and is estimated to reach $2,229.3 million by 2030, growing at a CAGR of 5.30% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.

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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COVID-19 Scenario

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.

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.

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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.

The industry is increasing improved efficiency through use of AI (artificial insemination) technology. Furthermore, female descendants born by artificial insemination are expected to produce milk than their normal descendants. Use of antibiotic-based semen expanders also prevents bacterial infections from being transmitted. Moreover, many livestock breeds are no longer sufficient for most farms as market conditions and farmers needs change. Yet for such species, artificial reproduction is a preferable form of reproduction and enables species to be continued in-situ.

The artificial insemination segment held the lion's share

By technique, the artificial insemination segment dominated the market in 2020, contributing to more than half of the market. Moreover, the segment is expected to register the highest CAGR of 5.2% during the forecast period, owing to rise in consumption of animal protein and surge in demand for high cattle productivity & milk yield. The report includes an analysis of other segments such as in vitro fertilization technology and others.

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.

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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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of 'Market Research Reports' and 'Business Intelligence Solutions.' AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

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