Equine Artificial Insemination Market to Grow with a CAGR of 5.66% through 2028
Genetic
improvement, safety concerns, and international trade requirements are expected
to drive the Global Equine Artificial Insemination Market growth in the forecast
period, 2024-2028.
According to
TechSci Research report, “Equine Artificial Insemination Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”,
the Global Equine Artificial Insemination Market stood at USD 614.30 million in
2022 and is anticipated to grow with a CAGR of 5.66% in the forecast period,
2024-2028. This can be attributed to research and education. Research
institutions and educational organizations play a crucial role in advancing
equine artificial insemination techniques. They conduct studies, develop best
practices, and provide training programs for veterinarians, breeders, and horse
enthusiasts. This dissemination of knowledge fosters confidence in the use of
artificial insemination and encourages its adoption among a broader audience.
Moreover, the
adoption of data analytics and AI is poised to revolutionize equine breeding.
These technologies can analyze large datasets, including genetic information,
reproductive histories, and environmental factors, to provide insights into
breeding strategies. AI can also assist in predicting fertility and identifying
potential issues early in the breeding process, improving overall success
rates.
In the European
horse breeding industry, the primary focus lies in selecting and breeding
horses for sports and reproduction, with a relatively smaller emphasis on
breeding for leisure purposes. Profitability in Europe hinges on the sale or
leasing of horses, and this is predominantly achieved through meticulous horse
breeding practices. European horse breeds are chosen based on their lineage,
athletic achievements, and temperament. When it comes to selecting a stallion
for breeding, the cost of their semen plays a pivotal role. Furthermore, recent
advancements in horse insemination include techniques such as sperm sexing,
low-dose deep intrauterine insemination, and intracytoplasmic sperm injection.
The growth of
the equine artificial insemination (AI) market in Europe is further propelled
by the presence of institutions that offer advanced training, conduct research
on new technologies and procedures, and make strides in the field of horse
reproduction. For example, EquiBreed UK Ltd specializes in equine reproduction
and is structured to optimize reproductive outcomes for mares, stallions, or
horses. Their services encompass stallion services, stud facilities, artificial
insemination, and embryo transfer, among other offerings.
According to the
American Horse Council, the horse industry in the United States is a
substantial and economically diverse sector that significantly contributes to
the national economy. In 2017, the horse industry directly supported 988,394
jobs and had a direct economic impact of over $50 billion on the U.S. economy.
Additionally, the industry provided $38 billion in direct wages, salaries, and
benefits. Furthermore, the influence of the horse industry extends beyond these
immediate economic impacts, as it fosters collaborations, partnerships with
non-governmental organizations (NGOs), and investment activities, which are
expected to offer growth opportunities in this market.
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The Global Equine
Artificial Insemination Market is segmented into solution, equine type,
distribution channel, regional distribution, and company.
Based on its distribution
channel, the private sector held a significant market share in 2022, and it is
projected to experience the most rapid growth throughout the forecast period.
This segment encompasses all private service providers catering to racehorses
and other related areas. For example, Cryoport, Inc., a leading provider of
advanced cryogenic logistics solutions in the life sciences industry, expanded
its cryogenic logistics services into the field of animal husbandry. They
achieved this by entering into a new customer agreement with Yancey Farms to
facilitate the shipment of equine semen for artificial insemination procedures
involving top German Sport horse Stallions.
Furthermore,
there are several independent companies in this domain that provide equine
artificial insemination (AI) services, such as Stallion AI Services and Hoffman
AI Breeders. For instance, Hoffman AI Breeders specializes in collecting and
freezing stallion semen. Additionally, Stallion AI Services, renowned as a
global leader in equine reproduction services, possesses unparalleled expertise
in collecting, processing, storing, and distributing equine semen. Over the
past 22 years, their highly skilled and dedicated team has conducted over
20,000 collections from more than 1,200 stallions.
Based on region,
North America took the lead in the market, commanding the largest market share
in 2022, and it is expected to maintain this dominant position throughout the
forecast period. According to data from the Food and Agriculture Organization
of the United States, there were approximately 10.56 million horses globally in
2021, with North America alone accounting for 10.96 million of them.
Additionally, the proliferation of horse farms and the frequency of horse races
have contributed significantly to the market's growth. In the United States,
there are more than 300 racetracks, with approximately 33,567 horses
participating in these races annually. Furthermore, the import of 18,865 horses
into the United States in 2021 has increased the demand for equine artificial
insemination (AI) services in North America.
Meanwhile, the
Asia Pacific region is poised to experience the swiftest expansion during the
forecast period, with China and Japan being the primary driving forces. Japan,
in particular, boasts one of the largest horse racing scenes in the world,
featuring over 21,000 horse races annually. Although horse racing in Japan has
evolved and adopted Western influences, it remains deeply rooted in Japanese
culture as a cherished tradition. Currently, all major racing events in Japan
are organized by the National Association of Racing (NAR) and the Japan Racing
Association (JRA).
Major companies
operating in Global Equine Artificial Insemination Market are:
- IMV Technologies SADIR
- Stallion A I Services Ltd
- Zoetis Inc
- Neogen Corp
- Zerlotti Genetics Ltd
- Erc S.r.o.
- CVS UK Ltd
- HOFFMAN A.I. BREEDERS INC.
- Continental Genetics, LLC
- Minitüb GmbH
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“In conclusion,
the Global Equine Artificial Insemination Market is undergoing a transformative
period, driven by emerging trends. As technology continues to advance,
breeders, veterinarians, and artificial insemination providers will have more
tools at their disposal to optimize breeding outcomes, enhance genetic
selection, and address sustainability and ethical concerns. Keeping a close eye
on these trends will be essential for staying competitive and meeting the
evolving needs of the equine industry,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“Equine Artificial Insemination Market By Solution
(Equipment & Consumables, Semen (Normal Semen, Sexed Semen), Services), By
Equine Type (Sports/Racing, Recreation, Others), By Distribution Channel
(Private, Public), By Region, By
Competition Forecast & Opportunities, 2018-2028F”,
has evaluated the future growth potential of Global Equine Artificial
Insemination Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Equine Artificial
Insemination Market.
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