In view of growing demand for genetically modified breeds of livestock, the global animal artificial insemination market is projected to grow at a healthy 5.4% CAGR through the forecast period (2019 – 2029). Between 2019 and 2029, the animal artificial inseminations market revenues are set for 1.7X expansion, as suggested by a new Future Market Insights (FMI) study.
“Growing adoption of advanced semen sexing technologies for animal breeding, aquaculture, and dairy farming is projected to propel growth of animal artificial insemination market,” says the FMI analyst.
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Key Takeaways of the Animal Artificial Inseminations Study
- Reagent media is remains a highly preferred product owing to growing importance of semen culture.
- Semen collection procedures account for around three quarters of the overall market revenue with advances in relevant technology.
- Animal artificial insemination will find significant application in ruminants, accounting for a major market share.
- North America and East Asia are key regional markets, with government support for indigenous animal breeds and animal food production.
Animal Artificial Inseminations Market – Top Growth Drivers
- Rising investments in artificial insemination procedures for ruminants and canine are key growth drivers.
- Frequent new launches and introduction of new insemination processes push developments in the industry.
- Improving pet insurance scenario and increased presence of third-party players are boosting the market revenue.
- Adoption of animal artificial insemination procedures is heightening, with the rise in private animal health care centers.
- Awareness programs about zoonotic diseases contribute to overall demand.
Animal Artificial Inseminations Market – Key Restraints
- The risk of contamination or transmission of diseases through semen restrict the growth of animal artificial insemination market.
- Intense selection of parent animals for breeding are narrowing genetic variations, which continues to limit market growth.
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Some of the prominent players that are covered by the study include, but are not limited to, ABS Global Inc., Accelerated Genetics, Boehringer Ingelheim, Merck & Co. Inc., Zoetis Inc., Elanco Animal Health, All Star Genetics, World Wide Sires, Alta Genetics, ST Genetics, Semex and more. Leading players in the field of animal insemination are acquiring smaller competitors in the industry to expand market share and build a product portfolio. Further, key players are pushing for better distribution presence in individual regions to boost the scope of setting up manufacturing settings.
Key Questions Covered in Report
- What is the current animal artificial insemination market size?
The global animal artificial insemination market size is expected to surpass US$ 2 Bn in 2021.
- At what rate did the animal artificial insemination market grow in the last five years?
The animal artificial insemination market expanded at 4.4% CAGR between 2016 and 2020.
- What are the key factors fuelling animal artificial insemination demand?
The rising demand for genetically superior breed in cattle and increasing calf prices are leading to higher adoption of animal artificial insemination procedures.