Pune, April 11, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global veterinary artificial insemination market is expected to grow from USD 4.74 billion in 2021 to USD 8.42 billion by 2030, at a CAGR of 6.6% during the forecast period 2022-2030.
The main advantage of artificial insemination is that it reduces the danger of disease transmission involved with animal reproduction. The need for high cow efficiency and milk composition is expected to rise due to artificial insemination. To address the ever-increasing demand, industry participants are employing synthetic insemination processes to generate high-quality cattle breeds and boost productivity. This factor is expected to grow the global veterinary artificial insemination market during the forecast period. Global population growth, urbanization, and an increase in the average population's purchasing power are all expected to enhance the production of high-quality dairy and allied goods. In the following years, the global veterinary artificial insemination market is likely to be driven by an increase in demand for high-quality dairy products.
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The growing worldwide population and expanding need for animal-based protein drive the demand for artificial insemination in household farmed animals. Improving veterinarian services and increased animal healthcare costs are also urging market expansion. Moreover, the main businesses are forming strategic alliances to increase their range of animal genetics and boost their position in other sectors. The procedure of achieving conception withoutsperm or sperm in the female uterus is known as artificial insemination. Cattle are bred with freshly, uncooked, or cold straw of semen. Insemination is a method of obtaining pregnancy in animals using in vitro fertilization. It is also utilized in assisted reproduction and contraceptive innovations to allow animals to reproduce in heat. Veterinary artificial insemination is an excellent technological tool for enhancing animal heredity and production.
Key players operating in the global veterinary artificial insemination market are:
• Genus
• CRV
• URUS Group LP
• Viking Genetics
• SEMEX
• Swine Genetics International
• STgenetic
• Select Sires Inc.
• Stallion AI Services Ltd
• Shipley Swine Genetics
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To enhance their market position in the global veterinary artificial insemination market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• For example, Genus plc, a leading animal genetics firm, collaborated with Beijing Capital Agribusiness Co. Ltd, a prominent Chinese animal protein breeding firm, to investigate and produce virus-resistant procedures in pigs.
• For example, Elanco Animal Health established cooperation with Ducks Unlimited in April 2021 to promote sustainable development and agriculture - especially beef cattle development across North America.
• To fulfill the increased demand, LIC, an agritech co-operative established in New Zealand, will open a sexed sperm lab in the nation in September 2021.
In 2021, the swine type dominated the market with a market share of 22.12%.
The animal type segment is divided into cattle, equine, sheep, swine, canine, and others. In 2021, the swine type dominated the market with a market share of 22.12% and market revenue of 1.04 billion. The expanding output of organic pig meat due to increased animal welfare awareness will offer momentum to the industry. The rising demand for high-quality hog meat has compelled producers to expand their production facilities, which will benefit the market. Customers' increasing use of pig meat in various forms like ham, ham, steaks will allow the industry to expand quickly. The increasing popularity of pork in Western European countries will increase swine commerce and production in the near future.
In 2021, normal semen accounted for the largest share of the market, with 56.7%.
The product segment is divided into sexed semen and normal semen. In 2021, normal semen accounted for the largest share of the market, with 56.7% and market revenue of 2.68 billion. This growth is due to the low cost of normal sperm and the firm conception and low death rates.
The veterinary clinics accounted for the largest share of the market, with 37.3% for veterinary artificial insemination in 2021.
The end-user segment is divided into veterinary clinics, veterinary hospitals, others. The veterinary clinics accounted for the largest share of the market, with 37.3% and market revenue of 1.76 billion for veterinary artificial insemination in 2021. Clinics often provide wellness checks concentrating on preventative treatment and routine checkups for pets.While they can undertake spaying and neutering operations, they will need to send out more complicated cases to a better-equipped institution. They will have treatments and medicines, but they may not be as well-stocked as a vet clinic.
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Regional Segment Analysis of the Veterinary Artificial Insemination Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the Asia Pacific region emerged as the largest market for the global veterinary artificial insemination market, with a market share of around 38.14% and 1.08 billion of the market revenue in 2021. Due to several significant players in this region, Asia-Pacific is the greatest contributor in terms of market revenue. This is due to rising demand for dairy and animal-based protein and government performance, which is driving market expansion in this area.
About the report:
The global veterinary artificial insemination market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each piece. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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