The UK’s Competition and Markets Authority (CMA) has initiated an investigation into the veterinary sector amidst concerns regarding potential overcharging and lack of pricing transparency for pet owners. This probe is significant, considering over half of UK households own a pet. The investigation aims to scrutinize consumer experiences, pricing clarity, and the dominion of large corporate vet groups in the market, which have seen a rise, with approximately 60% of vet practices now under corporate ownership, up from a decade ago.

Key issues under the CMA’s review include the scarcity of upfront pricing for basic veterinary services on practice websites, found to be the case for about 80% of vet practices. This lack of transparency hampers pet owners’ ability to make informed decisions. Concerns have also been raised about pet owners not being adequately informed about the option to purchase medications elsewhere after receiving a prescription, which could lead to missed savings.

The investigation has brought to light worries about the potential stifling of competition due to the market dominance of large vet groups such as Pets At Home and CVS Group, which could result in higher costs, reduced service quality, and the closure of independent vet practitioners. In response, Pets At Home and CVS Group have expressed their commitment to addressing the issues raised, with Pets At Home noting the independence of its locally-owned vet practices in setting prices and services.

This CMA investigation, by assessing concerns related to pricing transparency, competition, and consumer choice, could lead to changes in how veterinary services are priced and offered across the UK, with potential measures including prescription fee caps and enforced pricing transparency. The initiative underscores the CMA’s commitment to ensuring fair practices for the UK’s 16 million pet owners, aiming at a more competitive and transparent market in the veterinary industry.