Dublin, Sept. 30, 2021 (GLOBE NEWSWIRE) -- The "Veterinary Artificial Insemination Market - Growth, Trends, Covid-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Veterinary Artificial Insemination market is expected to register a CAGR of nearly 4.66% during the forecast period, with a revenue of approximately USD 3,869.97 million in 2020, and it is expected to reach USD 5,069.20 million by 2026.
The COVID-19 pandemic has created a significant adverse impact on different sectors, including that of the veterinary sectors in several countries. It has caused disruptions in livestock and poultry value chains, leading to a fall in procurement and sale of animal-sourced food. Animals were suffered due to lack of adequate feed and veterinary care such as the need for timely artificial insemination, timely pregnancy check, and de-worming.
In order to safeguard farmers and employees against the COVID-19, the Animal Husbandry Department of India launched a program in June 2020 which offered telephonic assistance to poultry farmers and owners. Adding to that, artificial insemination was delivered to farmers at their doorstep during the COVID-19 pandemic. Thereby, such initiatives have contributed to market growth.
The factors that are driving the market growth include the growing animal and fishery industry and the increasing burden of sexually transmitted diseases.
Furthermore, globally, the demand for superior breed of animals is increasing, which, in turn, is increasing the demand for artificial insemination procedures in animals. In addition, globally, rising human population along with associated advantages such as decreased cost of housing, increased efficiency of bull usage, safety for farmers and animals, genetic selection, handling bull are anticipated to drive market growth in near future.
Artificial inseminations technique helps to reduce many of the transmitted diseases among veterinary animals. It allows greater efficiency in terms of genetics and allows cross-breeding of animals.
Furthermore, as per Food and Agriculture Organization of the United Nations, approximately 50% of the world's population consumes fish as food. And also, around 580 aquatic fishes are currently being produced across the globe which is driving the need for larger production of animals, and thereby, expected to boost the demand for veterinary artificial insemination.
Key Market Trends
The Veterinary Hospital Segment is Expected to Gain a Significant Market Share in the Veterinary Artificial Insemination Market
The Veterinary Hospital Segment is expected to witness significant growth in this market, owing to higher prevalences of transmitting diseases and increasing adoption of artificial insemination techniques.
In India, Animal Husbandry Department's launched a program to safeguard its employees and farmers against the COVID-19. The veterinary hospitals provided artificial insemination services during the COVID-19 pandemic with preventive measures such as provided with gloves, masks, sanitizers, and floor cleaners to maintain the optimal level of hygiene.
In the United States, ABC Veterinary Hospital provided artificial insemination services by keeping staff and pet parents safe during the COVID-19 outbreak and implemented new procedures for the prevention of COVID-19 infection.
Globally, an increasing number of hospitals performing artificial insemination techniques and a rising number of veterinarians are driving the market growth. For instance, according to the American Veterinary Medical Association, in 2018, in the United States, more than 90% of veterinary hospitals offered insemination services.
As per the Kerala Institute of Local Administration 2017 report, in India, the government is taking initiatives to raise productivity with the help of veterinary hospitals planning for appropriate interventions to increase the production and productivity of milk, egg, and meat which ultimately increase demand for the artificial insemination process.
For instance, as per Animal Husbandry, Dairying and Fisheries Department 2020-2021 report, in India, field institutions of the department provided breeding services to the cattle population. Furthermore, an artificial insemination service was provided for cattle and buffaloes at a cost of Rs.10 per insemination. A total of 48.88 lakh artificial inseminations were performed during the 2019-20 period.
According to the Journal "Animals", 2017, around 67% of mares were inseminated in Europe. The presence of skilled professionals in association with artificial breeding is also important. For instance, in the United Kingdom, Oakham Veterinary Hospital is a British Equine Veterinary Association (BEA) approved center for Artificial Insemination(AI) with fresh, chilled, or frozen semen.
Furthermore, when animals are in close contact or share the same environment which may result in the spreading of infectious diseases. For instance, in 2019, South Korea discovered its first outbreak of deadly African swine fever (ASF) at a pig farm in Paju, Gyeonggi Province, South Korea. Thus, livestock diseases are also contributing to a set of problems within livestock production systems. These problems include productivity losses, uncertain food security, and loss of income, among others, which are adversely affecting human health as well. Hence, in order to prevent infectious diseases, it is expected to raise demand for artificial insemination in the coming years.
Therefore, these factors are expected to drive the need for artificial mating, and thereby, expected to influence positively on the veterinary artificial insemination market.
Asia-Pacific is Expected to Witness a Significant Growth in the Market During the Forecast Period
The major factors driving the global veterinary artificial insemination market growth in the Asia-Pacific region include growing infectious diseases in animals and increasing awareness about artificial insemination among people.
In Asia countries such as India, China, and South Korea are severely affected due to the COVID-19 outbreak. During the COVID-19 pandemic, in May 2020, in India, the National Dairy Development Board (NDDB) launched an interactive webinar to create awareness about procedures to be followed in the dairy value chain during the COVID-19 pandemic. In addition, artificial insemination and breeding management, difficulties faced by co-operatives and ensured regular payments to farmers which have boosted the market growth.
Avian influenza is a highly contagious viral disease affecting several species of food-producing birds such as chickens, quails as well as pet birds. For instance, as per World Organisation for Animal Health, in Asia countries, Avian influenza continues to cause severe losses in poultry. Moreover, there is a rising in the adoption of artificial insemination to reduce the risk of infectious disease transmission among veterinary animals.
Many countries in Asia have encountered highly pathogenic avian influenza subtypes such as H5N1, H5N2, H5N6, H5N8 as well as the highly pathogenic H7N9 which resulted in outbreaks in 2018-2019. These outbreaks impacted animal and public health, trade, and the economy in affected countries. This factor is expected to boost the market as this will increase demand for the artificial insemination process in order to prevent infectious diseases among animals.
Furthermore, the growing demand for products related to fishery and animal husbandry is expected to drive the veterinary artificial insemination market. According to the National Statistics of Bureau, in 2017, produced over 3148.6 per 10,000 tons of milk.
According to a research article by M A Hannan et al., published in the Journal of Veterinary Medical Science February 2019, Japan, embryo transfer in Japan by artificial insemination using frozen semen found to be useful in improving the productivity of Japanese domestic and special riding horses.
As per Animal Husbandry, Dairying and Fisheries Department 2020-2021 report, in India, the department introduced the new technology of sexing the semen by which the sperms responsible for the birth of male calves are sorted and eliminated and as a consequence, only female calves are produced. Adding to that, it government has proposed to adopt new technology by using 2,000 numbers of such semen doses which will be used for artificial insemination in the farmer's animals on a pilot basis. For instance, in August 2019, Obstetrics of Madras Veterinary College and the Department of Veterinary, Gynecology started artificial insemination in cattle using sexed semen. Hence the aforementioned factors are expected to fuel the market growth in this region.
The Veterinary Artificial Insemination Market studied is moderately competitive, with the presence of, both, international and local companies. Some of the companies in the Veterinary Artificial Insemination market are IMV Technologies, Neogen Corporation, Bovine ELite LLC, Agtech Inc., Zoetis Inc and others.
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Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Animal Husbandry and Fishery Industry
4.2.2 Increasing Burden of Venereal Diseases in Animals
4.3 Market Restraints
4.3.1 High Cost of Equipment
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product Type
5.2 By End User
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Bovine Elite LLC
6.1.3 Agtech Inc.
6.1.4 IMV Technologies
6.1.6 Zoetis Inc
6.1.7 Neogen Corporation
6.1.8 National Meditek
6.1.10 Swine Genetics International
6.1.11 Select Sires, Inc
6.1.13 Cooperative Resource International (GENEX)
6.1.15 Genus plc (ABS Global)
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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