India Veterinary Artificial Insemination Market Growth Forecasts - A USD 252.4 Mn Industry Opportunity By 2028Posted by rahul nikade on September 29th, 2022 India Veterinary Artificial Insemination Industry Overview The India veterinary artificial insemination market size was valued at USD 80.5 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 15.7% from 2021 to 2028. The increasing demand for milk and advancement in Artificial Insemination (AI) techniques are the factors propelling the market. Milk production in India has grown by 6.5% from 2018 to 2019 as per the National Dairy Development Board and the country continues to be the largest milk-producing nation. The growth of the dairy industry is driven by the rising population, accelerated economic growth, urbanization, and enhanced purchasing power of the average population. This demand is expected to continue witnessing exponential growth over the forecast period. Gather more insights about the market drivers, restrains and growth of the India Veterinary Artificial Insemination Market During the COVID-19 pandemic, disruption in supply chains due to stringent lockdown norms consequently resulted in a decline of production of dairy products, thus impacting the market growth. However, the market had shown a V-shaped recovery during the 3rd quarter of 2020 as most of the dairy services were considered under emergency services. For instance, Genus’s revenue for the Asia Pacific region increased by 18% in 2020 from the last year, especially due to the great performance in China and India. Increased use of high-genetic merit semen to improve the productivity of low-yielding indigenous cattle is boosting revenue. Hence, the Government of India has been promoting the use of High Genetic Merit (HGM) bull semen for artificial insemination. This is expected to lead to the birth of genetically superior calves through upgrading the graded and non-descript bovines. For instance, the NDDB has launched many initiatives and programs in 2019 to improve the genetic makeup of the dairy bovines of the country. The key focus has been on indigenous dairy animals as they are adaptable, more disease resistant, and have low resource dependency. Browse through Grand View Research's Animal Health Industry Research Reports.
India Veterinary Artificial Insemination Market Segmentation Grand View Research has segmented the India veterinary artificial insemination market based on product, animal type, and distribution channel: India Veterinary Artificial Insemination Product Outlook (Revenue, USD Million, 2016 - 2028)
India Veterinary Artificial Insemination Animal Type Outlook (Revenue, USD Million, 2016 - 2028)
India Veterinary Artificial Insemination Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)
Market Share Insights
Key Companies profiled: Some of the prominent players operating in the India veterinary artificial insemination market include:
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