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Medical Marijuana, Inc. Launches Animal Line of CBD Products
Phyto Animal Health, a subsidiary of Medical Marijuana, Inc., launched with CBD hemp oil products targeted to cats, dogs, and horses.
A new company is hoping to acquire a share of the estimated $70 billion spent on pets annually.
On January 23, Medical Marijuana, Inc.—the first public company in the legal cannabis and industrial hemp markets—announced its newest subsidiary, Phyto Animal Health. The company currently owns 8 brands of cannabidiol (CBD) hemp oil products for humans, including bath and body products, supplements, and gum.
Phyto Animal Health launched with products targeted to cats, dogs, and horses, including CBD oil and hemp bedding and litter. The company said the inspiration for Phyto Animal Health came from Dante, a service dog, and his owner Ian Quinn, who now serves as CEO of Phyto Animal Health. The duo volunteers at a local Veterans Affairs housing program, and it was there that Quinn learned about the growing popularity of CBD among veterans. Quinn decided he wanted to provide those same benefits to Dante and, after consulting with veterinarians, created a line of CBD supplements specifically for pets.
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“We've seen the popularity of our CBD products for humans grow significantly in recent years and look forward to achieving the same type of success in the animal health and wellness market,” said Stuart Titus, PhD, CEO of Medical Marijuana, Inc. In 2016, the US animal supplements market was worth $580 million and is expected to grow considerably in the next 5 years.
According to survey results from the Journal of the American Holistic Veterinary Medical Association, an increasing number of owners use CBD hemp oil products for their small animals. Of those who participated in the online survey, nearly 12% indicated they currently used a hemp product for their cats and 58% said they do so for their dogs.
For dog owners, the areas felt to be positively impacted by CBD products had a positive impact by relieving pain, helping with sleep, and relieving anxiety. Similarly, cat owners reported that CBD products helped moderately or a great deal with relief from pain, reduction of inflammation, and help with sleep.
Phyto Animal Health products are available in the United States and in 40 countries internationally, and the products can also be purchased in the Medical Marijuana, Inc. online store.