The artificial insemination market was estimated to be worth $1.83 billion in 2021 and is forecast to reach $3.1 billion by 2028, according to a new report from Brandessence Market Research. The company said this would equate to a Compound Annual Growth Rate of 7.8% from 2022 to 2028.
Based on this new report, the company said in a news release that the demand for artificial insemination in the animal breeding vertical is expected to add to growth, in addition to human healthcare utilizing the technology.
The cost and regulations around the practice have slowed growth in the market overall. The market was also impacted by the COVID-19 pandemic, with demand for procedures increasing while facilities and staff were not able to be open or operate normally to meet the demand.
Download a sample of the report and learn more at: https://brandessenceresearch.com/healthcare/artificial-insemination-market-size