Acumen Research and Consulting, a global provider of market research studies, in a recent report entitled “Veterinary Insemination Market – Global Industry Analysis, Market Size, Opportunities, and Forecast, 2021-2028”
LOS ANGELES, Aug 18, 2021 (GLOBE NEWSWIRE) – The Global Veterinary Artificial Insemination Market will grow at a CAGR of around 5.5% from 2021 to 2028 and reach around $ 6,780.5 million by 2028.
The Asia-Pacific region holds the dominant share; Latin America has a significant share of the artificial insemination market in veterinary medicine
The Asia-Pacific region dominated the veterinary artificial insemination market in 2020 and this trend is expected to continue throughout the forecast period. In cooperation with the Joint FAO / IAEA Program of Nuclear Techniques in Food and Agriculture, the International Atomic Energy Agency (IAEA) and the Regional Cooperation Agreement for Asia and the Pacific Region (RCA) have a Technical Cooperation (TC) project to improve animal productivity and reproductive efficiency. On the other hand, according to an FAO report, the majority of developing countries offer farmers some opportunities to use AI, albeit sometimes to a limited extent. Such factors have a positive impact on the regional market and ultimately contribute to the overall market growth of the Veterinary Medical Fertilization market during the investigation period.
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India is expected to have the largest share of the veterinary artificial insemination market among the provinces in the Asia-Pacific region. Favorable policies, strong funding and the implementation of new reforms to preserve the native breed of cattle are fueling the veterinary artificial insemination market in India.
That being said, Latin America has had a significant share in the past and is expected to have a dominant share in the years to come. Brazil has one of the largest commercial herds of cattle in the world with 238 million head of cattle, 43% dairy and 57% beef cattle. According to the U.S. Department of Agriculture, Foreign Agriculture Services, that number is significantly higher than the United States. Due to the high cattle production, the demand for technologically advanced methods of preserving / preserving the local breed will increase. Such factors create profitable growth opportunities for the regional market and ultimately drive the overall growth of the Veterinary Insemination market.
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In the United States, on the other hand, artificial insemination is gaining traction and will continue to do so throughout the forecast period. Previously, 80% of the dairy animals bred using the artificial insemination (AI) technique were from the United States. The increased adoption of AI techniques has made the United States one of the key markets, accounting for 90% of North American provinces’ share, and this trend is expected to continue throughout the forecast period. In addition, the increasing number of animal breeding facilities, technological advances in artificial insemination and the benefits associated with animal breeding with strong support from AI technology, as well as increasing R&D spending are driving the growth of the entire artificial insemination market in the expected to grow exponentially in the coming years.
Because veterinary artificial insemination has been in commercial use for over 60 years, it is very effective in the dairy and beef industries. One of the major driving forces behind the global Veterinary Artificial Insemination Market is the various responsible factors associated with artificial insemination that reduce the risk of animal breeding and disease transmission. In addition, increasing animal and fish productivity through the use of AI technology is driving overall market growth. In addition, the entire AI technology process is seen to be more hygienic and natural mating is driving the growth of the global artificial insemination market.
The global veterinary artificial insemination market is segmented into species, product and end user. Based on the species of animal, the market is divided into cattle, pigs, sheep, dogs, horses, and others. Depending on the product, the market is divided into normal semen and sexed semen. In addition, the end user is divided into veterinary clinics, animal husbandry and others
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Some of the leading competitors are SWINE GENETICS INTERNATIONAL, Select Sires, Inc., SEMEX, GENEX Cooperative, Zoetis Inc., Genus plc, Xcell Breeding & Livestock Services Private Limited, and others
Some of the key observations regarding the veterinary artificial insemination industry are:
- In March 2018 Select Sires announced the launch of the “Elite Sexed Fertility” product line. With the introduction of Elite Sexed Fertility, Select Sires continuously monitors the efficiency of gender sorted sperm as well as conventional sperm through an internal fertility system analysis
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