Press release
Veterinary Artificial Reproduction Market: The Future of Farming: How Veterinary Reproductive Technology is Revolutionizing Livestock Production | CAGR of 5.30%
The global veterinary artificial reproduction market was valued at $1,349.4 million in 2020, and is estimated to reach $2,229.3 million by 2030, growing at a CAGR of 5.30% from 2021 to 2030.
Veterinary artificial reproduction refers to the use of assisted reproductive technologies in veterinary medicine. This includes techniques such as artificial insemination, in vitro fertilization, embryo transfer, and cryopreservation of sperm, eggs, and embryos. These techniques can be used to improve the genetic diversity and productivity of domesticated animal species, as well as to conserve endangered species. They can also be used to diagnose and treat infertility and genetic disorders.
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Covid-19 scenario:
The Covid-19 pandemic disrupted the supply chain and increased the prices of raw materials.
Moreover, the prolonged lockdown across several countries created a shortage of animal health products as nutritional feeds and vaccines across the globe.
Rise in adoption of veterinary artificial insemination drives the growth of the global veterinary artificial reproduction market. However, semen contamination hinders the market growth. On the contrary, government support affecting animal health services is expected to open new opportunities for the market players in the future.
The use of veterinary artificial reproduction is primarily in the following segments:
Livestock production: Artificial insemination is widely used in livestock farming, particularly in dairy and beef cattle, pigs, and sheep. The technology helps to improve the genetic quality of the herds and increase productivity.
Equine industry: Artificial reproduction is commonly used in horses for the preservation of valuable genetic lines and the improvement of performance characteristics.
Companion animals: Artificial reproduction is also used in companion animal species, such as dogs and cats, for the treatment of infertility and to preserve valuable bloodlines.
Zoological and conservation medicine: Artificial reproduction is used in conservation breeding programs for endangered species, as well as in zoos to maintain genetic diversity and manage population growth.
Overall, the use of veterinary artificial reproduction has the potential to benefit animal health, welfare, and productivity, as well as to support species conservation efforts.
Europe, followed by North America, to contribute the highest revenue by 2030
By region, the market across Europe held the largest share in 2020, accounting for nearly two-fifths of the market, due to rise in healthcare awareness and increase in demand for fishery and animal husbandry products. However, the market across Asia-Pacific is projected to portray the highest CAGR of 6.9% during the forecast period, due to the presence of a large livestock population in the region and rise in demand for milk and animal-based protein along with government initiatives. On the other hand, North America held the second-largest share in 2020, contributing to nearly one-third of the market.
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Major market players
Bovine Elite LLC
Agtech Inc.
KRUUSE
Zoetis Inc.
IMV Technologies
National Meditek
Neogen Corporation
Select Sires Inc.
Swine Genetics International
SEMEX
Chromatography Market https://www.alliedmarketresearch.com/chromatography-market-A13099
Infection Survillance Services Market https://www.alliedmarketresearch.com/infection-surveillance-services-market-A13109
Asia-Pacific Fertility Services Market https://www.alliedmarketresearch.com/asia-pacific-fertility-services-market-A13035
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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