Veterinary Artificial Insemination Market Trends, Demand,Analysis And Forecast

Posted by Neha Bora on March 6th, 2020

San Francisco, 6 March 2020: The Report Veterinary Artificial Insemination Market Size, Share & Trends Analysis Report By Animal Type (Cattle, Swine, Sheep, Canine), By Product (Normal & Sexed Semen), By End-use (Vet Hospitals & Clinics), By Region, And Segment Forecasts, 2019 – 2026

The global veterinary artificial insemination market size is expected to reach USD 2.5 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 5.1%. The market for Artificial Insemination (AI) is anticipated to witness rise in demand owing to increasing consumption of animal protein and growing demand for high cattle productivity & milk yield. To fulfill the continuously increasing demand, market players are adopting AI to breed high-quality livestock and enhance production. The demand has increased over the years, owing to rising prevalence of various animal diseases, such as zoonotic diseases, and growing adoption of pet & companion animals.

According to Food and Agriculture Organization (FAO) publication 2017, livestock was almost 40% of the global value of agricultural output, and it provides food security and livelihood to more 1.5 billion people worldwide. However, increasing land requirement for grazing these animals is a major concern. Public awareness regarding environmental concerns has resulted in a shift toward white meat consumption and rise in preference for vegetarian diet, increasing the demand for milk & its products. Favorable government regulations, intended to improve productivity, are also leading to growth; for instance, Animal Improvement Program, launched in 2014, by Animal Genomics and Improvement Laboratory (AGIL) that is an agricultural research service organization of U.S.DA. The program aims at improving productivity of dairy animals and ruminants.

The veterinary artificial insemination market follows the standards set by International Society of Artificial Insemination (ISAG) and leading animal research laboratories, such as The University of California Davis (U.C. Davis). The ISAG standard panel consists of 18 STR markers and any company in AI needs to follow the panel and standard set by the authority. However, increasing population is expected to pose continuous challenge to food availability and animal protein requirement, aiding growth.

Further key findings from the report suggest:

• Cattle segment was the largest revenue-generating segment in 2018, owing to the increasing consumption of milk and its products in Asian countries
• The normal semen segment accounted for the largest revenue share in the products segment in 2018, owing to the low cost of the procedure
• In the end-use segment, the veterinary hospitals accounted for the largest share and is expected to maintain its dominance throughout the forecast period. Increasing pet adoption is a major factor leading to growth of this segment
• Sexed semen usage is expected to grow at a higher rate during the forecast period. In 2016, ST Genetics produced 4 million X chromosome into an AI straw.
• Company sells sexed semen for five species of animals, including cattle, deer, sheep, horses, and goats. The rate of semen straws ranges between USD 65 and USD 250 a piece, depending on the quality, species, and use of the animal
• Asia Pacific was the leading regional sector and accounted for the largest revenue share in 2018, mainly due to the large cattle population in the region
• Some of the major players in veterinary artificial insemination market are Genus Plc, Select Sire, Semex, Swine Genetics, Zoetis, Hendrix Genetics Corporate, and Animal Genetics among others.

Access Research Report of Veterinary Artificial Insemination Market @ https://www.grandviewresearch.com/industry-analysis/veterinary-artificial-insemination-market