In a groundbreaking revelation, the Global Animal Artificial Insemination Industry is set to undergo a transformative surge, according to the latest report by Future Market Insights (FMI). The projections outlined in the report indicate a robust trajectory, with the market expected to surpass a substantial valuation of US$ 2.18 billion by 2023.
Artificial insemination, recognized as a game-changer within the industry, brings forth a multitude of advantages compared to traditional breeding methods. These include the enhancement of genetic traits, effective disease prevention, and a substantial boost in reproductive efficiency. Analysts at FMI foresee a promising growth trajectory, with the industry aiming for an impressive US$ 3.91 billion valuation by 2033. This trajectory reflects a consistent Compound Annual Growth Rate (CAGR) of 6.0% throughout the forecast period.
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Global meat production has increased in the past several years and is estimated to increase from 218 million tons to 376 million tons by 2030. According to the Organization for Economic Co-operation and Development (OECD), the U.S. meat consumption was on average of 35kg per capita in 2020.
There also has been an increase in per capita consumption of milk and milk products. According to the OECD and FAO, in 2020, the global per capita dairy consumption of milk and dairy products was estimated at 113.7 kg. Also, it is estimated that this number is expected to increase by 44% by 2029. The rise in consumption of animal proteins and milk products has made dairy farmers and livestock breeders to focus on obtaining genetically better breed for large-scale production. This also is expected to boost the growth of the Global Animal Artificial Insemination Industry.
Key Takeaways from Global Animal Artificial Insemination Industry Study
- Remarkable Growth Trajectory: The Global Animal Artificial Insemination Industry is on track to achieve a significant milestone, projecting a valuation of over US$ 2.18 billion by 2023, showcasing the industry’s upward trajectory.
- Advantages of Artificial Insemination: Artificial insemination emerges as a transformative force within the industry, offering advantages such as enhanced genetic traits, effective disease prevention, and a substantial boost in reproductive efficiency.
- Steady 6.0% CAGR: Analysts at FMI foresee a promising growth trajectory, with the industry aiming for an impressive US$ 3.91 billion valuation by 2033. This trajectory reflects a consistent Compound Annual Growth Rate (CAGR) of 6.0% throughout the forecast period.
- Government Initiatives Driving Demand: Proactive initiatives by governments worldwide to ensure food security emerge as a significant driver, sustaining the demand for artificial insemination in animals.
- Quality Breeds and Consumer Demand: Escalating demand for genetically superior quality cattle breeds, coupled with the rising consumption of animal protein and the demand for high-quality milk and dairy products, are set to fuel the demand for animal artificial insemination procedures between 2021 and 2031.
“Research and development initiatives by governments coupled with advancements in biotechnology and animal science will offer lucrative growth opportunities for Global Animal Artificial Insemination Industry,” said a FMI Analyst.
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Artificial insemination (AI) in animals has transitioned from being just a novel method to impregnate the female to be an advanced technique used for improving the livestock by protecting it from various infectious diseases.
Greater focus on innovation coupled with advancements in biotechnology to avoid animal diseases is expected to create a favorable platform for the development of artificial insemination products, especially, in high-income economies such as the U.S., U.K. Germany. Artificial insemination (AI), Embryo transfer (ET), in-vitro fertilization (IVF), and somatic cell nuclear transfer are some of the emerging technologies in this space.
Continued investments in research towards genetic improvements could improve the breeding quality of animals using artificial insemination procedures, hence providing opportunities for market growth.
Who is Winning?
The global market is set to expand due to the growing demand for animal services and the rising prevalence of animal diseases. To expand their product offerings, leading players within the market are focused on expanding by pursuing mergers, acquisitions and collaboration as one of their key growth strategies. Also, this would allow the key players to strengthen their presence in the region as well as global markets.
Some of the leading players in the Global Animal Artificial Insemination Industry include but are not limited to Boehringer Ingelheim, Elanco Animal Health, Zoetis Inc., Merck & Co., Inc., Swine Genetics International, Revival Animal Health Inc., Jorgensen Laboratories Inc., Agtech Inc., ABS Global, Inc., Continental Plastic Corporation, and IMV Technologies.
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Global Animal Artificial Insemination Industry by Category
Product type
- Insemination Equipment
- Catheters
- Micromanipulation Pipettes
- Insemination Gun
- Artificial Insemination Syringe
- Insemination Sheath
- Artificial Insemination Applicator
- Reagent Media
- Bovine Media
- Equine Media
- IVF Media
- Thawer
- Accessories
- Artificial Insemination Kits
- Others
- Artificial Insemination Straws
Animal Type
- Canine
- Feline
- Swine
- Bovine
- Equine
- Ruminant
Procedure Type
- Semen Collection Procedures
- Artificial Vagina
- Electrostimulation
- Insemination Procedures
- Recto Vaginal
- Spectrum
- Vaginal
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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