Hello, welcome to the Life Sciences Virtual Investor Forum. On behalf of OTC Markets and our co-host, Zacks Small Cap Research, we are very pleased you have joined us. The next presentation of the day is from PetVivo Holdings. Please note you may submit questions for the presenter at any time. You can also view a company's availability for a one-on-one meeting by clicking Book a Meeting. At this point, I am very pleased to welcome John Lai, Chief Executive Officer, President, and Director of PetVivo Holdings, which trades on the OTCQX market under the symbol PETV. Welcome back, John.
Good afternoon. My name is John Lai. I'm the CEO of PetVivo Holdings. We will be presenting our investors deck, which you can also find on our website at www.petvivo.com under the Investors section. There are forward-looking statements in this presentation. PetVivo Holdings is traded on the OTCQX under the symbol PETV. PetVivo Holdings has four wholly owned subsidiaries. The first one is PetVivo Animal Health. Through PetVivo Animal Health, we sell our flagship animal health product in Spryng with OsteoCushion Technology and PrecisePRP. Our other wholly owned subsidiary is PetVivo.ai.
The AI launch should be happening in the next 45 days, 60 days, where the goal is to introduce to the veterinary industry an encompassing system that allows the veterinary doctors and the pet owners to have better communications between the two, help the veterinary clinics reduce their time of onboarding new patients, as well as reducing the cost of customer acquisitions, creating that trust and bond between the pet owner and the veterinary doctor. We also have a human subsidiary that we're in the process of naming it. This will lead to multiple human products using the Spryng platform and other partner technologies. Gel-Del Technologies is our manufacturing arm, which will be manufacturing the Spryng particles and other products as we introduce into the marketplace.
It currently holds ISO 5, 7, and 8, which are human medical device certifications, even though we're just producing right now in the animal health space. The company highlights. We're targeted a very large U.S. animal health veterinary market. It's about $40 billion. It's been growing at over 5% a year for the last five years. Spryng with OsteoCushion Technology is a veterinary medical device where the particles, once it's injected into the joint, mimics cartilage and tissue. Our other product is PrecisePRP. It's an off-the-shelf allogeneic PRP product where you just rehydrate. One of the major advantages is obviously we don't have to draw the blood from the dog or horse and go through a centrifuge. The growth drivers is we're continually focused on innovations through strategic partnerships to bring innovative, disruptive products into the animal health market.
U.S. commercialization's been going on since 2021. We have the top five distributors in the United States. Then internationally, we have expanded to the U.K., Mexico, and Canada. We have a very strong, robust amplification system through the PetVivo AI. As we go through this presentation, you'll see how each one of the units complement each other and create a lot of synergy. Basically, osteoarthritis, the opportunity, and the current treatment. Basically, osteoarthritis is a very common affliction. It's basically the degrading of cartilage in dogs, horses, and cats. It causes pain, inflammation, and there's a lot of lameness, mobility issues involved with it. It doesn't get any better over time, and the current solution is mostly focused on the symptoms. The number one target or gold standard is using NSAIDs, and that's basically masking the pain.
Then there's been a lot of steroids, hyaluronic acid-type injections, very expensive, very short-term oriented, and once again, it's targeting the symptoms. Stem cells, PRP, it requires draw of the actual blood from the host animal. Our PrecisePRP doesn't require that, but in general, it's time-consuming and it's about three applications a year. Our Spryng injection usually is good for a year upon a single injection. Spryng is a naturally-derived product. Once it's injected into the joint, it forms a scaffolding matrix that mimics the cartilage and tissue that was there in the joint spot. Then over the next couple of weeks, it migrates to the outer synovium, seeks out defective areas. The particles go into the defective area, and the body actually absorbs it in as its own. Generally, it lasts about 12 months.
We feel this is an optimal solution because it's not just targeting the symptoms, it's truly targeting the root cause of the problem, the degrading of the cartilage, and it's a naturally-derived product using collagen, elastin, and heparin, which are building blocks of tissue and cartilage. The Spryng particles, like I said before, fill in the space where cartilage used to be, and then fills, it creates the matrix scaffolding, and then migrating to the outer synovium. It lasts generally at least 12 months. We have seen cases where it lasted well beyond that. Once you do inject, one of the advantages we have found is that it does reduce the need for inflammatories, painkillers, and so on. We're reducing pharmaceutical usage. That's one of the goals in the human medicine as well as veterinary medicine is to reduce the need of pharmaceuticals.
When you see pharmaceuticals, there's usually side effects associated with it. Like if you use prolonged use of NSAIDs, will cause GI tract bleeding, liver and kidney issues, and like I said, it's masking the pain. In many instances, the dog won't feel the pain and run and jump in situations where it normally would not and actually accelerate the damage. Ours is a very economical solution as a longer-term focus treatment on the joint affliction. Technology, it's a naturally-derived product. We source all of our materials here in the United States, and we make it right here at our facility in-house, and our facility meets human medical device standards, ISO 5, 7, and 8. We have a very deep patent portfolio, and we actually injected humans before we injected your pets.
Our initial trial was for 145 human patients using the particles as a dermal filler. You can look at the study on the FDA clinical trial website, where you can see that our dermal filler clinical trial did quite well against the gold standard, which is Restylane. Restylane is a very large usage market for dermal filling. It's about $1.5 billion a year in the United States, and we compared very well. The mechanism of action is basically the particles mimic the lost cartilage and going to the outer synovium. Cooper, we have multiple cases of real-world applications on our website, so I would encourage you to go because we do have a limited time, so I'll just go really fast. We have seen dogs, labs that are 12 years old, barely walking.
After the injection, within two, three weeks, the dog will be running up and down the stairs, and we have many cases that we have restored the quality of life for the dog and also the enjoyment of the pet owner for multiple years or at least a year or two beyond what a normal situation would exist where they may have to go to surgery. If you look at the demographics or what the dollar amount that a pet owner would spend before they stop treatment. In 2012 for a dog, it was about $1,700. In 2023, it was close to $20,000 before they stop treatment. So you can see how the pet has become part of the family.
The demographics are showing the Gen Zs, the Millennials, their pets become part of their family because less and less of them are getting married and less and less of them are having children. So we're catching a very nice wave in the pet ownership market. Fergie, which is a horse, so we have had a lot of horse data because that's what we started off with. When we started into the animal health product, we wanted to see what was the best way to get data back from the pet owners, and we determined that it was in the area of athletic horses. Hunter jumpers, racehorses, and so on, because generally you have a trainer, you have a track vet, and you're able to get instant feedback because these are professionals that are able to really see minor changes in gaiting and so on of the animal and performance.
We did extremely well. Our products used in multiple areas and been endorsed and recommended by major race teams in horse racing. This competitive distinction is we're not just addressing the symptoms, we're really going after the root cause of the problem. The current treatments rely on biological or pharmaceutical activity, which has symptoms with it or adverse events. We have a major cost advantage, and it's derived from natural materials. So one of the reasons we're very comfortable, and the data has shown, is that when we did our human trials, we were able to get the human FDA to declare these particles as a human medical device. So that means it shows when it went into people, it was neutral in the body.
When we inject it into the animals, the animals are looking at it's its own material, there isn't any type of change in T cells and so on to indicate that there's a rejection to the particles. It sees it its own. That's why it integrates into the joint. We have injected over 12,000 dogs, horses, and cats. Been very successful, data behind it. Here's the comparison of the product. You can see we're very long-lasting, very minimally invasive, and it's a really good tool actually from a multimodal standpoint. Some of these products can be used in conjunction with Spryng because Spryng is focused on creating an atmosphere for long-term proper joint function. A lot of these are addressing the symptoms.
If you think about it, you address the symptom with one of the other products and then follow it with Spryng, you'll probably see a very good long-term result. A lot of our data shows that if you have a joint that's inflamed and you inject Spryng, it's going to take a lot longer, and there may be some negative effects initially until the joint cools down. If you use one of the NSAIDs to bring it down, we could have a much better long-term result. We've had a couple of tolerance studies. They're very similar to what, on the human side, we call safety studies. We have very good tolerance studies for cats and dogs.
We have had hip dysplasia studies that have really given good results and stifle studies, CCL ruptures that we have gotten much better results than the gold standard treatment. You can go onto our website and read into the details. We got other studies going with Colorado State that's completed going through peer review. Studies with Dr. Sherman Canapp for elbows, Dr. Jamie Gainer for hips. Those will be coming out here probably by the end of the year. We should be getting them published. PrecisePRP, it's an FDA-reviewed product. It's very high platelet count per vial. It's about 4 billion. No centrifuge required because traditional PRP requires you to draw the blood, put it in the centrifuge. It takes about 30 minutes, you're enriching the platelets and then injecting it back into the animals.
One of the drawbacks is when you take the blood from the host animal, if that host animal has issues, the platelets may not take on the enrichment. With PrecisePRP, they're very strong platelets from a herd, and we're able to add the enrichment, and the platelets will absorb it. You're going to get good, consistent results. It saves you a lot of time on drawing the blood, you can treat more patients and spend more time with the animal. PRP, we talked about it. It's been used in the veterinary space for quite a while. Actually, it started in the human side in the 1970s. The vets didn't pick it up until probably 2000 where it became common use. We have state-of-the-art production facility. We talked about ISO 5, 7, and 8 for human medical device manufacturing.
Since we're producing for animals, these were not required. We wanted to make sure we could have that type of standard, much higher standard than what's required. We have a very deep patent portfolio. We have very good protection, but beyond there, we have very good trade secrets in place. We have six detailed trade secrets along with our patents, and we have multiple patent applications going in later this year. Market overview. The growth of the market is quite good. It's about 5% or over 5% for the last five years. Veterinary care is the leading driver, and currently, about 65% of households own pets, 83 or 87 million dogs, and about 75 million cats in the U.S., and approximately close to 7 million horses. We talked about the dog owners spending $1,700 in 2012. In 2025, it's $20,000 before they stop treatment.
Pet insurance market is growing, and our product is declared as a veterinary medical device, so it does fall under where you can get reimbursement. Obviously with pet insurance, it's on an individual case basis because Obamacare doesn't apply to pet insurance because if your pet has a preexisting condition, the odds are good that you're not going to get this reimbursed. Animal product pipeline. Today, we announce the acquisition of PiezoBio, which is the spinoff company from the University of Connecticut. What they did is they developed nanofibers that fit into our Spryng particles, and what their study was able to find in small animals is that it created regeneration. Your body regenerated cartilage within 60 days in small animals.
We believe this can extend out as we do more studies and eventually by the first part of 2027, go into human side of the market by filing with the FDA to go into clinical trials. You see with that acquisition, it will open us up to expansion of multiple product lines using their nanofiber with our Spryng. As you can see, and as time evolves, we will give more better timetables of additional animal health products because of the human studies we'll be doing. That acquisition will allow us to apply for multiple grant funding from the federal government, as well as multiple research and development tax credits going forward. We're excited about the acquisition and the expansion of products on both the animal side and the human side.
Here's the human product potential pipeline, and as we get integrated of the two companies into our human side of the subsidiary, we will be able to announce timetables of studies and products in more definition or better defined. Distribution partners. We have the top five distributors in the U.S., MWI Animal Health, Covetrus, Patterson, Midwest Veterinary, Penn Animal Health. We're probably covered in 95% of the veterinary clinics because out of those five, they pretty much cover all the vet clinics in the U.S. Our wholesale partners are Clipper and Vetco. They actually are resellers. They buy from us, and then they do the management and distribution for the major distributors. Digital Landia Holding Corp., that is our partner for PetVivo AI, Inc. It's a white label licensing relationship that will allow us to launch PetVivo AI, Inc. into the veterinary market.
We have partnerships with corporate clinics, as well as individual clinics where we can offer them a system where the veterinary clinic can set the parameters saying, "Within a 10-mile radius of my clinic, I want to find out who dogs or cats need vaccines." Then you can do a special coupon or a special invitation for a clinic visit to get the vaccine. Therefore, your customer acquisition cost is reduced by at least 80%. For the veterinary clinic side, we have superagents or what we call diagnostic agents, where we will help the vet gather onboard information and then give the vet analysis, what they see is going on. Then if the vet agrees with the analysis or looks at secondary, tertiary analysis, it will create a very good common person's language to communicate it to the pet owner.
It will tell the pet owner, "To help with your dog's care, we would recommend increasing exercise and walking by additional 10 minutes. Here are the categories of food that best fits your type of animal you can buy at the store." Then you also get recipes for naturally made products. It really engages the pet owner in the overall care with the veterinary doctors and build a trust and bond. Strategic partnership, PBM, that is the acquisition we announced this morning. Veterinary Growth Partners. There are over 7,300 clinics in the U.S., and they have been using our product for a while, some of their lead vets.
We partnered up where they are going to help educate their groups, their clinics within the Veterinary Growth Partners group, where they are going to show their vets on continuing education because we got four different webinars that gives continuing education for the veterinary doctors so they learn more about Spryng, intra-articular injections, multimodal approach of using our products to give the best outcomes for their pets that have lameness issues, osteoarthritis, surgical rehab. We have a very strong management team, many years of experience in both the human side as well as the animal health side. Good independent board of directors that is very active in helping us in multiple areas. Our advisors are Dr. Tracy Turner. He is president of AAEP, American Association of Equine Practitioners. He has been using our product multiple years.
Dr. Sherman Canapp, he is doing the study for us on the elbow study that is going through peer review. Dr. Debra Canapp. They are able to give us a lot of insight on what our product's commercial ability, what advantages we have over the current therapy. Growth drivers. U.S. direct sales force to support the distributor sales force. We have expanded into the U.K., Mexico, and Canada. In Canada, we got the clearance and we just got the approval for the French translation.
We are using PetVivo AI and other methods of amplifying our message. We are doing multiple continued education credits for the veterinary doctors. We are attending many conferences and doing webinars at those conferences and having speakers. Then we are also focused on going out to the consumers, on letting the consumers know there is a longer-term solution or a product that can help improve the mobility of your pets.
Multiple clinical studies, and we continue to look at expanding internationally. Company highlights, market opportunity. With Spryng PrecisePRP, adding veterinary products as well as human products. AI push distribution to help improve communication between pet owner and veterinary doctors and help reduce the time a veterinary doctor needs to do to onboard information about the new patient. International expansion, robust B2B, B2C amplification. Thank you, and we'll open it up to Q&A. I see there's a few questions that's popping on board. One of them is, when will the product be available in Canada? We just got the approval from Health Canada on our French packaging and inserts. I would anticipate by the end of July, our product will be hitting the veterinary clinics. And we're excited about that because Canada has less options of products. We're a hydrogel.
We're classified in the hydrogel space, so it's an intra-articular injection. There is a little education, but the good thing is a lot of the Canadian vets come down to the U.S. conferences. They know about the product, and they've asked us when the product will be in Canada. We feel we'll get pretty good market penetration in the first year. Let's see. What are the key milestones over the next six to 12 months? I think one of them will be when we announce the different human products and filings that will be going into the human side of the FDA. I believe our first human filing will happen in the first quarter of 2027. Or if we're lucky, maybe at the end of 2026 for an IDE for the use of Spryng for human osteoarthritis. I think that'll be a very powerful, significant event.
We also have PiezoBio through the University of Connecticut will be doing studies for dogs and horses using our Spryng and nanofiber technology. What's cool about the nanofiber technology is it gets embedded in the Spryng, and the motion of the joint moving creates electrical field. That electrical field pulls the cytokine cells and everything into the space or the synovial joint and identifies what's needed, and the body helps repair itself. It's pretty amazing technology, and the studies are very strong. That's one of the key catalysts. The other ones is, as we file for grants and it becomes public information, it'll be very clear that we are quite innovative in our technology and the different products that will be coming out.
Other milestones is that I think you're going to see good, stronger clinic adoption, and we recently hired four additional salespeople, inside sales and territorial sales managers. Let's see. I think I'm running out of time, so I really appreciate everybody joining us. Remember, this deck is under petvivo.com in the investor section. And keep there to see the latest updates and news within the company and the various videos of how we have helped animals, real-world cases. Thank you for your time.