The global artificial insemination market size was US$ 1,921.2 million in 2021. The global artificial insemination market is forecast to grow to USD 3,177.9 million by 2030 by registering a compound annual growth rate (CAGR) of 8.1% during the forecast period from 2022 to 2030.
Artificial insemination is the medical process performed for people suffering from infertility who want to have children. In this process, semen is introduced into the female reproductive tract through other artificial means. This process is majorly recommended to couples undergoing unexplained infertility problems associated with normal sperm production, abnormal seminal fluid, etc.
Factors Influencing the Market
COVID-19 Impact Analysis
The COVID-19 pandemic brought various challenges along. The entire healthcare industry witnessed substantial disruptions, which affected the global artificial insemination market. As the rate of COVID-19 infection raised abruptly, it drew the focus of the entire sector to the COVID-19 patients. Hospitals stopped allowing other operations in order to control this deadly situation. Thus, the market for artificial insemination witnessed various obstacles during the pandemic period.
Regional Analysis
Based on the regions, the Asia-Pacific artificial insemination market is projected to hold the highest market share during the forecast period. It is due to the growing infertility rate in this region. Furthermore, rising awareness about effective treatment options for infertility will bring ample growth opportunities along. In addition, changing lifestyles and rising spending on healthcare will also contribute to the growth of the artificial insemination market during the forecast period.
Competitors in the Market
Market Segmentation
The global artificial insemination market segmentation focuses on Type, Source, End-User, and Region.
By Type Outlook
By Source Type Outlook
By End-Use Outlook
By Regional Outlook