The global veterinary artificial insemination market size was valued at USD 3.79 billion in 2020 and is expected to reach USD 5.9 billion grow at a compound annual growth rate (CAGR) of 5.9% from 2020 to 2027. The technique has been commercially available for over 60 years and has been utilized very effectively in the cattle and dairy industry.
Various factors such as artificial insemination (AI) can reduce many of the risks involved with animal breeding and disease transmission are the major factors leading to market growth. Increasing productivity using AI technology is boosting the market. Female offspring born through artificial insemination are found to produce more milk than normal offspring. The use of semen extenders containing antibiotics is also helpful in preventing the transmission of bacterial diseases. Furthermore, the entire procedure of AI is considered to be much more hygienic than natural mating. Based on live animal Products, the cattle segment commanded the largest share of 46.5% in 2020. Increased adoption of cattle for artificial insemination procedures, rising milk consumption, and production of beef are factors responsible for the significant growth of the veterinary artificial insemination market. For instance, according to data published by the UN FAO in 2018, beef & buffalo production increased from 69.56 million tons in 2017 to 71.61 million tons in 2018. Furthermore, the rising consumption of milk and milk products is positively impacting the market growth.
Based on Product, the normal semen segment commanded the largest market share of 76% in 2020 and is expected to maintain its position during the forecast period. The high segmental revenue is attributed to the low price of the normal semen as compared to sexed semen. For instance, according to a study published by the Italian Journal of Animal Science in May 2017, the conception rate of sexed semen as a percentage of normal semen ranged from 71.8% to 78.5%, which was indicative that normal semen had a higher fertility rate than sexed semen.
Based on end-use, the animal husbandry segment commanded the maximum market share of around 46% in 2020. The growth can be attributed to the majority of the semen collection and AI procedures are performed in small and large breeding farms. Moreover, increasing government initiatives and demand for milk and protein is further increasing the adoption of AI technology. For instance, in October 2018 Indian government approved around USD 330 million for Animal husbandry Infrastructure Development Fund (AHIDF). In February 2018, Alibaba Cloud, DEKON Group, and Sichuan Tequ Group collaborated to use ET Brain technology for pig breeding in China.
The Veterinary Artificial Insemination market is segmented on the basis of product, Animal type, end-use, and region. On the basis of Product Normal Semen, Sexed Semen. On the basis of Animal type Cattle, Swine, Sheep, Canine, Equine, Others. End-use Veterinary Hospitals, Animal Husbandry, Others.
Asia Pacific held the largest market share of 30.3% of the veterinary AI market owing to the presence of a huge livestock population in this region. Increasing demand for milk and animal-based protein along with government initiatives are propelling the market growth. India held a revenue share of around 24.4% of the Asia Pacific market as of 2020. For instance, in May 2020 Indian government announced USD 2.13 billion funds for animal husbandry infrastructure development projects. Moreover, China also has the third-largest cattle inventory and actively performing artificial insemination technology in farms to increase productivity which is boosting the revenue.
Some of the prominent players in the veterinary artificial insemination market include: Swine Genetics International, Select Sires, Inc., SEMEX, Cooperative Resource International (GENEX), Zoetis, Cogent, Genus plc, Viking Genetics, Polar Genetics India, Fox Fire Farm, Xcell Breeding & Livestock Services Private Limited.
Report : Veterinary Artificial Insemination Market - By Product (Normal Semen, Sexed Semen), By Animal Type (Cattle, Swine, Sheep, Canine, Equine, Others), By End-Use (Veterinary Hospitals, Animal Husbandry, Others), And By Region (North America, Asia Pacific, Europe, Middle East & Africa and Latin America) - Industry Analysis, opportunity and Forecast 2020 To 2027