Artificial Insemination Market Overview
Global Artificial Insemination Market was valued at USD 1,818.29 Million in 2019 and is expected to register a CAGR of 8.6% during the forecast period. The global artificial insemination market’s growth can be due to the rising rate of infertility worldwide, changing lifestyles among the population, an increase in NHS money allocated to the fertility market in the biopharmaceutical industry, and widespread reimbursement. Individuals’ growing awareness of alternative reproductive treatments is a crucial aspect driving the industry.
Additionally, some nations have allowed same-sex marriage and provide insurance coverage for artificial insemination treatments to civil unions, which contributes to the artificial insemination market growth. Apart from that, the growing global population and the growing demand for animal-based protein are increasing the demand for artificial insemination in domestic livestock animals. The industry is also growing as a result of improved veterinary services and greater expenditure on animal healthcare.
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The growing demand for novel remedies to address infertility-related issues is spurring manufacturers to develop unique goods. Additionally, an increase in the number of cycles required to conceive has resulted in a massive increase in global demand for consumables and devices.
Artificial Insemination Market Segmentation
The market for artificial insemination has been segmented by type and end user.
The global artificial insemination market is classified into intrauterine, intracervical, and intratubal artificial insemination. The rising prevalence of infertility and developments in artificial insemination are propelling the market’s expansion.
The global artificial insemination market has been segmented by end user into hospitals & clinics, fertility centres, and home-based. In 2019, the worldwide artificial insemination market was dominated by the hospitals & clinics sector.
Artificial Insemination Market Region Insights
The Global Artificial Insemination Market has been segmented geographically into the Americas, Europe, Asia-Pacific, and Middle East and Africa. Due to the region’s huge number of enterprises, the Americas is projected to dominate the worldwide artificial insemination market. In 2019, the Americas accounted for a sizable share of the worldwide artificial insemination industry, accounting for 40.8 percent. Additionally, this substantial market share is a result of government rules and the region’s high healthcare expenditure.
Europe accounted for a sizable portion of the worldwide artificial insemination market. The artificial insemination market in Europe is predicted to expand significantly over the forecast period, owing to factors such as reimbursement availability. Additionally, the availability of a sophisticated healthcare infrastructure and the growing adoption of modern technology and products are projected to benefit the artificial insemination industry in Europe.
The Asia-Pacific region’s rapid expansion is a result of the region’s growing population, an increasing number of patients suffering from infertility, growing awareness of available treatment choices, and the region’s availability of various goods. For instance, Genea Limited (Australia), Hi-tech Solutions (India), and Kitazato Corporation (Japan) manufacture IUI Catheter, disposables such as centrifuge test tubes, IUI cannula/catheter, buffers, and stylets, among other goods.
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Artificial insemination is booming in the Middle East and Africa (MEA) region due to rising infertility concerns and demand for in-vivo fertilisation techniques such as artificial insemination. Additionally, increasing approvals for various treatment options for artificial insemination are moving the MEA industry forward. The commercialization deal will help the region’s reach expand geographically.
Artificial Insemination Market Competitive Dynamics
The Prominent Players in the Global Artificial Insemination Market are Vitrolife AB, Genea Limited, Rinovum Women’s Health, LLC, Pride Angel, Hi-tech Solutions, Kitazato Corporation, Fujifilm Irvine Scientific, and Rocket Medical.
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