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Veterinary Assistive Reproduction Technology Market Trends

Report ID: GMI10258
Published Date: Jul 2024
Report Format: PDF

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Veterinary Assistive Reproduction Technology Market Trends

Rising demand for animal breeding is significantly driving the market.
As livestock farming and pet ownership increase, there is a growing need to improve the genetic quality, productivity, and health of animals.
Advanced reproductive technologies such as artificial insemination, embryo transfer, and in vitro fertilization are becoming essential tools for breeders to enhance breeding efficiency, manage genetic diversity, and address food demand issues.
Globally, farmers are expected to produce 70% more food to feed a population that is estimated to reach 9.6 billion by 2050. Most of this growth is expected in developing countries.
Rapid urbanization in developing countries is also responsible for increasing concerns regarding food security. As of 2021, approximately 55% of the global population lived in urban areas, a percentage expected to increase to 73% by 2050.
Due to these population and urbanization trends, the consumption of animal products is expected to increase significantly, driving the demand for advanced animal breeding technologies.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Veterinary assistive reproduction technology industry size was USD 6.8 billion in 2023 and is projected to expand at 6.8% CAGR from 2024 to 2032, due to the rising demand for high-value livestock and pets.

The services type segment in the veterinary assistive reproduction technology industry accounted for USD 2.9 billion in 2023 owing to the increasing demand for specialized reproductive services.

The artificial insemination technology segment in the veterinary assistive reproduction technology industry accounted for 71.5% share in 2023 as it offers significant advantages in genetic improvement, disease control, and reproduction management across various animal species.

North America veterinary assistive reproduction technology accounted for 38.6% share in 2023 and is projected to expand at 6.5% CAGR between 2024 and 2032, due to the presence of advanced veterinary healthcare infrastructure and a strong focus on animal welfare.