Veterinary In Vitro Fertilization Market Size (2024 - 2029)

Veterinary In Vitro Fertilization Market Analysis

The Veterinary In Vitro Fertilization Market size is estimated at USD 1.52 billion in 2024, and is expected to reach USD 1.95 billion by 2029, growing at a CAGR of 5% during the forecast period (2024-2029).

The veterinary in vitro fertilization (IVF) market encountered significant challenges and opportunities during the COVID-19 pandemic. The global supply chain disruption impacted the availability and transportation of essential IVF materials and equipment. This led to operational inefficiencies, increased costs, and delays in project timelines of in-vitro fertilization. Pet owners and livestock breeders, facing financial uncertainties, began perceiving advanced reproductive technologies like IVF as an optional service, potentially leading to a decline in demand for veterinary services and influencing the overall dynamics of the IVF market. However, the pandemic has also underscored the significance of genetic diversity and disease resistance in animal populations. IVF offers a strategic solution to enhance genetic diversity by facilitating controlled breeding practices. Through assisted reproductive technologies like IVF, managing and preserving genetic variability within animal populations becomes possible. This realization drives an increased interest in advanced reproductive technologies such as IVF for safeguarding and enhancing desirable animal genetic traits. In February 2021, Animal Frontiers published that capacity-building programs in animal breeding have had challenges due to restrictions, leading to the rescheduling of most programs during a pandemic.

The post-pandemic era presents opportunities for the veterinary IVF market to rebound and grow. As economies recover, increased investment in research and development may lead to technological advancements and the introduction of more cost-effective solutions. Moreover, the increased awareness regarding the importance of animal health and genetics stimulates renewed interest in advanced reproductive technologies, potentially driving market growth. For instance, in April 2023, Vytelle, LLC. announced USD 20 million in funding for accelerating genetic progress in cattle.

Further, increasing demand for high-quality breeding and advancement in reproductive technology are among the significant factors driving the growth of the veterinary in vitro fertilization market. IVF allows for precision breeding by enabling the selection and propagation of specific genetic characteristics, leading to animals with superior traits such as enhanced disease resistance, improved productivity, and desirable physical attributes. For instance, in December 2021, the Journal of Dairy Science published an article stating that assisted reproductive technologies can contribute to accelerated genetic gain by allowing more offspring to be produced from genetically elite dams.

Moreover, advancements in reproductive technology are also influencing the growth of the in vitro veterinary fertilization market. Technological progress helps reshape and expand the landscape of veterinary-assisted reproduction, presenting breeders and researchers with newfound possibilities and efficiencies. Intracytoplasmic sperm injection (ICSI) proves a precious technique in case of male infertility or challenges associated with conventional insemination in certain species. Furthermore, advancements in imaging technology, such as time-lapse microscopy, facilitate the real-time monitoring of embryo development. For instance, in May 2023, Improve International published that embryo production and transfer technologies allow breeders and vets to increase their herds' genetic improvement rate. In July 2023, MDPI published that over the past 40 years, in vitro embryo production (IVEP) has developed significantly, allowing an increase in the reproductive efficiency of animals with superior genetic merit and the maintenance of the population of endangered species.

Thus, increasing demand for high-quality breeding and advancement in reproductive technology drive the growth of the veterinary in-vitro fertilization market. However, the high cost associated with technology will be expected to restrain the market growth over the forecast period.

Veterinary In Vitro Fertilization Industry Segmentation

Veterinary in-vitro fertilization is a reproductive technique applied in animals to achieve fertilization outside the organism's body. The technique is used to overcome fertility challenges, preserve genetic diversity, and optimize breeding programs, especially when mating is impractical.

The veterinary in-vitro fertilization market is segmented into product types, techniques, end-user, and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). By product type, the market is segmented into instruments, reagents/consumables, and services. By technique, the market is segmented into embryo transfer, artificial insemination (AI), and other techniques. Other techniques include intracytoplasmic sperm injection, zygote intra-fallopian transfer (ZIFT) & gamete intra-fallopian transfer (GIFT). By end user, the market is segmented into veterinary hospitals, fertility clinics, and other end users. Other end-users include research laboratories and cryobanks. By geography, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.

For each segment, the market sizing and forecasts have been done on the basis of value (USD).