India Veterinary Artificial Insemination Market Growth & Trends
The India veterinary artificial insemination market size is expected to reach USD 252.4 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 15.7% from 2021 to 2028. Increasing demand for milk and the growing number of semen stations in the country are the factors propelling the growth. Increasing disposable income in developing countries is expected to further fuel the market expansion.
Demand for domestic sexed semen over imported semen is further propelling the country’s revenue. Brahma Genetics Facility by ABS India, established in 2017, was the first semen sexing lab in India. They provide sexed semen for Jersey, Holstein, Gir, Red Sindhi, Sahiwal, Crossbreeds, Mehsana & Murrah buffaloes. The BAIF semen station is located in Maharashtra where Sex ULTRATM sperm sex sorting technology (U.S.) is being used for sorting of semen. Moreover, ABS India also opened a new plant in Uttar Pradesh in 2020 for semen sorting. The above-mentioned factors are expected to propel the revenue over the forecast period.
India Veterinary Artificial Insemination Market Report Highlights
- The normal semen product was the largest revenue-generating segment in 2020. This contribution is mainly due to the increased number of insemination procedures in the country and favorable government initiatives
- The cattle held the largest revenue share of around 45% in 2020. The increasing cattle population and demand for dairy products from both developing and developed countries are boosting the growth
- The NDDB segment is expected to exhibit the fastest CAGR during the forecast period, due to the focus of the agency to increase the number of artificial insemination procedures as well as the production of HGM semen
- By distribution channel, the government segment held the largest revenue share in 2020 owing to increasing initiatives. For instance, the state government of Uttar Pradesh has decided to establish semen sexing facilities in its A grade semen stations in the forthcoming years with a target to produce at least 3 lakh of sexed semen doses in the first two years