Those who think that cannabinoid pet care is still relegated to the outer ranges of the “kooky” California market (the only place where vets are actually allowed to prescribe CBD to pets per state regs), should re-examine such beliefs. In fact, CBD-based pet care has established a foothold in the EU and is about to take off like other aspects of the “non-medical” human market.
Nowhere is this burgeoning trend more obvious than the recent news about a partnership between an Australian-Swiss firm, Cresco Pharma with one of the world’s leading veterinary pharmaceutical companies, Virbac. The partnership is also moving forward to sell such products in both Switzerland and Lichtenstein as of Q’2, 2019.
Why Is CBD Being Used For Pets?
Much like humans, anecdotal evidence and a few early studies, suggests that CBD can quell animal anxiety. That includes everything from sensitivity to loud noises to hair loss caused by stress. It is also increasingly being used by pet owners to help their furry family members cope with pain and osteoarthritis. Research on the impact of the drug on pets, however, is even more scarce than it is for humans.
That said, it is also very clear, even at this juncture, that CBD is completely harmless for pets (particularly cats and dogs). Unlike THC, which is not recommended in any form for animals, concerned pet owners can at least try this approach for distressed animals who do not seem to benefit from other treatments.
The Impact On The Entire Health Insurance Question In Europe
While relatively unknown in the United States and Canada, many Europeans take out health insurance for their pets. In fact, the first pet health insurance policy was written in Sweden in 1890. Today, about 80% of Swedish dog owners carry insurance for their pet. Only 3% of American dog-owning households do either according to data from the North American Pet Health Insurance Association.
Medical cannabis for humans is also increasingly covered by health insurance in Europe. The rise of pet applications for cannabinoid-based medications (along with the inevitable animal-based studies that are sure to result) will not only affect the pet care conversation. It will also, undoubtedly, rebound to human beings.
There is no better place than the International Cannabis Business Conference to learn the latest about the global industry and to network with top investors and entrepreneurs from around the world. The ICBC heads to San Francisco on February 7-8, 2019, before traveling to Europe for a series of events in Barcelona, Berlin, and Zurich, and then returns back to North America for a Vancouver conference to check in on legalization in Canada. If you are in the cannabis industry, or are thinking of joining, the ICBC is for you. Early bird tickets are now on sale!