The growing demand for high-yield livestock, such as cattle (bovine) and sheep (ovine), significantly propels the global veterinary In Vitro Fertilization (IVF) market. As the world’s population expands, the necessity for sustainable food sources, particularly in livestock, becomes more pronounced. Traditional breeding methods often hinder genetic improvement and production efficiency. In contrast, IVF technology enhances breeding programs, allowing for considerable advancements in livestock genetics and productivity. IVF enables breeders to select superior genetic traits and increase the number of offspring from valuable animals, thereby improving herd quality and productivity. This not only addresses the rising food supply needs but also supports the agricultural industry's goal of implementing more efficient and sustainable practices. Moreover, IVF aids in preserving genetic material, which is vital for maintaining biodiversity and protecting livestock populations from diseases.
The adoption of advanced reproductive technologies, like IVF, is especially beneficial in regions facing challenges related to livestock productivity, such as climate change and resource limitations. By optimizing breeding programs and boosting livestock production, IVF technology plays a crucial role in enhancing food security and promoting sustainable agricultural development.
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Data Bridge Market Research analyzes that the Global Veterinary in Vitro Fertilization (IVF) Market is growing with a CAGR of 5.5% in the forecast period of 2024 to 2031 and is expected to reach USD 2,620,323.72 thousand by 2031 from USD 1,710,000.00 thousand in 2023.
Key Findings of the Study
Rising Demand for Companion Animals
The increasing rates of pet adoption and the growing demand for genetic screening in companion animals, including horses, dogs, and cats, are significant drivers of the global veterinary In Vitro Fertilization (IVF) market. As more people embrace pet ownership and view pets as integral family members, the focus on their health and well-being has intensified. This shift in attitude has led to a rising interest in advanced reproductive technologies like IVF, which enhance breeding practices and support the health of companion animals.
Pet owners are increasingly seeking genetic screening to ensure the health of their animals, identify hereditary conditions, and improve breeding outcomes. IVF plays a critical role in this process by facilitating the breeding of genetically superior animals while minimizing health risks associated with inbreeding. The ability to select for desirable traits and conduct genetic assessments empowers breeders to produce healthier, high-quality companion animals that meet the evolving demands of pet owners.
The rising demand for companion animals, coupled with the increasing focus on genetic screening and advanced reproductive technologies, is driving the growth of the global veterinary IVF market. As pet owners continue to prioritize the health and genetic integrity of their animals, the role of IVF in enhancing breeding practices becomes increasingly important. This trend not only underscores the significance of veterinary IVF in companion animal health but also positions it as a vital component of modern animal husbandry and breeding strategies.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Year
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2022 (Customizable 2016-2021)
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Quantitative Units
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Revenue in USD Thousand
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Segments Covered
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Products and Services (Equipment, Reagents and Kits, and Services), Animal Type (Livestock Animal and Companion Animals), Technique (Artificial Insemination, Embryo Transfer, Ovum Pickup, and In vitro Maturation), Distribution Channel (Direct Tenders, Retail Sales, Online Sales, and Others), End User (Veterinary Fertility Clinics, Veterinary Hospitals, Surgical Centers, Research Laboratories, Cryobanks, and Others)
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Countries Covered
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U.S., Canada, and Mexico, Germany, France, U.K., Italy, Spain, Russia, Turkey, Poland, Belgium, Austria, Netherlands, Switzerland, Hungary, Ireland, Lithuania, Norway, and Rest of Europe, China, Japan, India, Australia, South Korea, Thailand, Indonesia, Malaysia, Vietnam, Philippines, Singapore, and Rest of Asia-Pacific, Brazil, Argentina, Peru Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Kuwait, Israel, and Rest of Middle East and Africa
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Market Players Covered
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Hamilton Thorne (U.S.), Esco Medical (Denmark), Zoetis Services LLC (U.S.), IMV Technologies Group (France), MINITÜB GMBH (Germany), Agetech Inc. (U.S.), Jorgensen Laboratories (U.S.), Bovine Elite (U.S.), KRUUSE (Denmark), Equine Fertility Centre (Netherlands), Paragon Veterinary Group (UK), Stateline Veterinary Service (U.S.), Trans Ova Genetics (U.S.), and Tri-Mitsu Pharmaceuticals (India) among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis
Global veterinary in vitro fertilization (IVF) market is segmented into five notable segments which are products and services, animal type, technique, distribution channel, and end user.
- On the basis of products and services, global veterinary in vitro fertilization (IVF) market is segmented into equipment, reagents and kits, and services
In 2024, equipment segment is expected to dominate the market
In 2024, the equipment segment is expected to dominate the market with a market share of 59.22% due to the essential role of advanced tools such as ovum pickup systems, incubators, and embryo transfer devices in ensuring precise and successful reproductive procedures, which are critical for improving livestock breeding efficiency and outcomes.
- On the basis of animal type, global veterinary in vitro fertilization (IVF) market is segmented into livestock animal and companion animals
In 2024, livestock animal segment is expected to dominate the market
In 2024, the livestock animal segment is expected to dominate the market with a market share of 77.87% due to the increasing demand for genetically superior breeds, higher reproductive efficiency, and improved milk and meat production, which are essential for meeting global food demands.
- On the basis of technique, global veterinary in vitro fertilization (IVF) market is segmented into artificial insemination, embryo transfer, ovum pickup, and in vitro maturation. In 2024, artificial insemination segment is expected to dominate the market with a market share of 44.86%
- On the basis of distribution channel, global veterinary in vitro fertilization (IVF) market is segmented into direct tenders, retail sales, online sales, and others. In 2024, direct tenders segment is expected to dominate the market with a market share of 55.62%
- On the basis of end user, global veterinary in vitro fertilization (IVF) market is segmented into veterinary fertility clinics, veterinary hospitals, surgical centers, research laboratories, cryobanks, and others. In 2024, veterinary fertility clinics segment is expected to dominate the market with a market share of 32.90%.
Major Players
Data Bridge Market Research analyzes Hamilton Thorne (U.S.), Esco Medical (Denmark), Zoetis Services LLC (U.S.), IMV Technologies Group (France), and MINITÜB GMBH (Germany) as the major market players of the market.
Market Development
- In October 2024, Esco Medical launched the MIRI Laminar Flow (MLF) Cabinet, designed for IVF clinics and laboratories. This innovative cabinet utilized vertical airflow and advanced filtration to ensure optimal sample protection, safety, and efficiency in laboratory environments
- In September 2024, Zoetis and Danone announced a strategic partnership to enhance sustainability in dairy farming through genetics. By combining their expertise, they aimed to improve animal health, reduce environmental impact, and create resilient dairy herds, aligning with growing consumer demand for sustainable dairy products
- In September 2024, IMV Technologies Group acquired UD-Vet B.V. UD-Vet are a leading provider of Veterinary practice equipment and other veterinary imaging modalities, based in Utrecht, Netherlands and Brussels, Belgium with a reach throughout the Benelux region
- In June 2024, IMV Technologies Group acquired Medivet Scandinavian AB, a prominent provider of veterinary digital radiography (DR) X-ray systems based in Ängelholm, Sweden. This acquisition marks IMV Technologies' first venture into the healthcare services sector in Sweden. Medivet, led by Torbjörn Hallenhelm, has established itself as a key player in veterinary imaging throughout Scandinavia
- In January 2024, Zoetis was awarded the 2024 Catalyst Award for its global initiative, "Awareness and Action Drives Impact," which advanced equity for women and underrepresented groups. This recognition marked Zoetis as the first animal health company to receive such an honor
- In October 2023, Hamilton Thorne Ltd. has acquired Gynetics Medical Products N.V., enhancing its consumables portfolio in the European IVF market. This strategic acquisition increases recurring revenue opportunities and expands product offerings, reinforcing Hamilton Thorne’s commitment to high-quality assisted reproductive technologies
- In July 2022, Esco Lifesciences Group announced its acquisition of Evidence Solution, a Danish company specializing in IVF management technologies. This acquisition aimed to enhance Esco's IVF portfolio by integrating Evidence’s innovative witnessing system to improve clinic workflows and prevent treatment errors
Regional Analysis
Geographically, the countries covered in the global Veterinary in vitro fertilization (IVF) market report are the U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, Turkey, Poland, Belgium, Austria, Netherlands, Switzerland, Hungary, Ireland, Lithuania, Norway, Rest of Europe, China, Japan, India, Australia, South Korea, Thailand, Indonesia, Malaysia, Vietnam, Philippines, Singapore, Rest of Asia-Pacific, Brazil, Argentina, Peru, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Kuwait, Israel, and rest of Middle East and Africa.
As per Data Bridge Market Research analysis:
North America is the dominant region in the global veterinary in vitro fertilization (IVF) market during the forecast period of 2024 to 2031
North America is expected to dominate the market due to the region's well-established livestock industry, high adoption of advanced reproductive technologies, availability of skilled veterinary professionals, and strong support from government and private initiatives aimed at improving animal productivity and genetic quality. North America will continue to dominate the market in terms of market share and revenue and flourish its dominance during the forecast period.
Asia-Pacific is estimated to be the fastest-growing region in the global veterinary in vitro fertilization (IVF) market during the forecast period of 2024 to 2031
Asia-Pacific is expected to grow during the forecast period due to the rising demand for advanced breeding techniques, driven by increasing awareness of genetic improvements and livestock productivity.
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