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veterinary-artificial-reproduction-market-A1367644
PORTLAND, IA, UNITED STATES, December 18, 2024 /EINPresswire / -- The global veterinary artificial reproduction
market was valued at $1.34 billion in 2020, and is estimated to reach $2.22 billion by 2030, growing at a CAGR of 5.30% from 2021 to 2030.
Artificial reproduction is a procedure by which one manually deposits a sperm suspension, fresh or frozen-thawed, into female reproductive tract to overcome logistical problems associated with natural mating.
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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.
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 reagents and kits segment to manifest the highest CAGR through 2030
By product, the reagents and kits segment is expected to register the highest CAGR of 5.2% during the forecast period. In addition, the segment held the lion's share in 2020, accounting for nearly one-third of the market, due to growing infectious diseases in animals and rise in awareness regarding artificial insemination among people. The report includes an analysis of other segments such as equipment and others.
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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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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.