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PORTLAND, Ore., Oct 26, 2021 / PRNewswire / –Allied Market Research recently released a report entitled “Artificial Animal Reproduction Market by Product (Equipment, Reagents & Kits, and Others), Technique (Artificial Insemination, In Vitro Fertilization Technology (IVF), and Others)” released. and end-users (veterinary clinics, veterinary clinics, and others): Global Opportunity Analysis and Industry Forecast, 2021-2030. “According to the report, the global veterinary artificial reproduction industry was tied to $ 1.34 billion in 2020 and is expected to be achieved $ 2.22 billion by 2030, with a CAGR of 5.3% from 2021 to 2030.
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Important determinants of market growth
The increasing adoption of veterinary artificial insemination is driving the growth of the global veterinary artificial reproduction market. However, seed contamination is a hindrance to market growth. On the contrary, government support for animal health services is expected to open up new opportunities for market participants in the future.
- The Covid-19 pandemic disrupted the supply chain and increased raw material prices.
- In addition, the ongoing lockdown in several countries has resulted in shortages of animal health products as food feed and vaccines around the world.
The reagents and kits segment to show the highest CAGR by 2030
By product, the Reagents and Kits segment is expected to experience the highest CAGR of 5.2% over the forecast period. In addition, the segment held the lion’s share in 2020, with a market share of almost a third due to the rise in infectious diseases in animals and the increasing awareness of people about artificial insemination. 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
Technically, the artificial insemination segment dominated the market in 2020, contributing more than half of the market. In addition, the segment is expected to see the highest CAGR of 5.2% over the forecast period due to increasing animal protein consumption and increasing demand for high cattle productivity and milk yield. The report includes an analysis of other segments such as in vitro fertilization technology and others.
Europe, followed by North Americato contribute the highest revenue by 2030
By regions, the market over Europe held the largest share in 2020, accounting for nearly two-fifths of the market due to increased health awareness and increasing demand for fishery and livestock products. However, the market is cross Asia Pacific is expected to have the highest CAGR of 6.9% over the forecast period as the area has a large livestock population and demand for milk and animal protein increases along with government initiatives. On the other hand, North America held the second largest share in 2020 and contributed almost a third to the market.
Important market participants
- Cattle Elite LLC
- Agtech Inc.
- Zoetis Inc.
- IMV technologies
- National Meditek
- Neogen Corporation
- Choose Sires Inc.
- Pig Genetics International
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“We have also published some syndicated market studies in a similar area that may be of interest to you. Below is the title of the report for your reference that takes into account the impact of Covid-19 on this market and will help you assess the after-effects of a pandemic in the short term. long-term and long-term growth trends of this market. “
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