Veterinary Artificial Insemination Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033

"The Business Research Company recently released a comprehensive report on the Global Veterinary Artificial Insemination Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The veterinary artificial insemination market size has grown strongly in recent years. It will grow from $4.03 billion in 2023 to $4.32 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to genetic improvement programs, increased productivity and efficiency, improved animal health and disease control, cost-effectiveness and access to superior genetics.

The veterinary artificial insemination market size is expected to see strong growth in the next few years. It will grow to $5.76 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to education and training, genetic enhancement programs, health and disease control, sustainable agriculture and environmental concerns, global demand for animal protein. Major trends in the forecast period include precision breeding, focus on livestock productivity and efficiency, health and disease management, sustainable agriculture practices, expansion into new markets and species.

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Market Drivers and Trends:

The growing demand for livestock is expected to propel the growth of the veterinary artificial insemination market going forward. Livestock are domesticated animals raised in an agricultural setting to produce commodities such as meat, milk, eggs, wool, and leather. Veterinary artificial insemination (AI) is a widely used technique in livestock production to breed animals by introducing semen into the female reproductive tract without natural mating, which improves the quality of the livestock and increases productivity. For instance, in October 2023, according to the United States Department of Agriculture, a US-based federal executive department, in the EU, pork, beef, and chicken meat exports are expected to account for 15% of global exports by 2024. Further, global beef and veal production increased by 1.59% from 58,361 in 2021 to 59,285 in 2022. Therefore, the growing demand for livestock is driving the growth of the veterinary artificial insemination market.

Major companies and governments operating in the veterinary artificial insemination market are focused on developing innovative products, such as livestock care services, to provide reliable services to customers. Livestock care services encompass a wide range of professional practices to promote farm animals' health, well-being, and productivity. These services are essential for maintaining sustainable and profitable livestock production, ensuring the safety of animal products, and safeguarding public health. For instance, in April 2023, the Government of Himachal Pradesh, an India-based supreme governing authority, launched Project Sanjeevani. It is uniquely designed to provide doorstep veterinary services, particularly in remote areas. The project addresses livestock owners' challenges in accessing timely and quality veterinary care. By leveraging teleconsultation and mobile applications, veterinary professionals can connect with farmers in remote areas, provide real-time advice, and facilitate timely interventions. The doorstep veterinary services are expected to provide curative treatment, vaccination, artificial insemination, preventive care, and all animal husbandry-related information.

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Major Key Players of the Market:

Swine Genetics International, Semex, Gènes Diffusion, CRV Holding B.V., Select Sires Inc., Shipley Swine Genetics, STgenetics, Hamilton Thorne Inc., Microptic, Medical Electronic Systems LLC., Magapor S.L., CooperSurgical Inc., Proiser, Zoetis India Limited, GenePro Inc., IMV Technologies, Neogen Corporation, Bovine Elite LLC., Agtech Inc., Sires SEMEX, Genex Cooperative Inc., Alta Genetics Inc., ABS Global Inc., Cogent Breeding Ltd., Viking Genetics, Inseme S.r.l., Semen Cardona S.L., Genus plc, Trans Ova Genetics, Cattle Genetics Ltd., Cattle Breeding Services

Veterinary Artificial Insemination Market 2024 Key Insights:

• The veterinary artificial insemination market size is expected to see strong growth in the next few years. It will grow to $5.76 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%.
• Driving Veterinary Artificial Insemination Market Growth Through Increased Demand For Animal Protein
• Innovative Initiatives In Veterinary Artificial Insemination And Livestock Care Services
• North America was the largest region in the veterinary artificial insemination market in 2023

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