British competition regulator releases provisional decision on vet market probe

The British Competition and Markets Authority (CMA) has published a provisional decision in its investigation into the UK’s £6.3 billion ($8.4B/€7.3B) veterinary services market, after identifying potential anti-competitive practices in the sector. 

The investigation found that pet owners pay 16.6% more on average at large veterinary groups than at independent vets. In addition, for at least 3 of those large groups, average prices increased faster at the practices they acquired than at those that remained independent.

Across a substantial part of the market, profits are significantly higher than they would be if competition worked effectively.

Regulatory system

The CMA also found that the current regulatory system is not fit for purpose, as it only regulates individual veterinary professionals rather than vet businesses, despite most practices being part of a large corporate group.

“We are proposing major reforms aimed at bringing about a transformation in the experience of pet owners and empowering them to make the best choices for their circumstances,” says Martin Coleman, chair of the CMA’s Inquiry Group. 

“We believe that our proposals would enable pet owners to choose the right vet, the right treatment, and the right way to purchase medicine – without confusion or unnecessary cost,” he adds. 

In May 2024, the competition watchdog launched a full market investigation to ensure strong competition and good outcomes for pets and their owners. The authority made it clear that the investigation is focused on veterinary businesses and not individual vets. 

Proposed remedies

The body proposed a comprehensive list of measures to address the currently identified issues. One of them is asking businesses to publish “comprehensive” price lists and state clearly if they are part of a large group. “These measures will give pet owners the information they need to choose the right practice and treatment options for them,” the CMA says.

The authority also says that pet owners should have “easy access” to “cheaper medicines online, including by requiring vets to tell pet owners about the savings they make by buying medicines online.”  

Vets should also provide owners with a written prescription so they can purchase the medication wherever they prefer, with a maximum price of £16 per prescription, and “clear price information” regarding treatments (including itemized bills), cremation and pricing breakdowns for pet care plans. 

The CMA also calls on the government to “urgently” prioritize a new Veterinary Surgeons Act and update regulations to include veterinary businesses. “Reform is needed to make sure pet owners’ interests are protected and there is an effective complaints handling route if things go wrong,” it says. 

What’s next?

The CMA has opened a public consultation on the provisional decision and will accept responses until 12 November.

The final decision will be published by March 2026. Reforms would be implemented through a legally binding CMA Order, and some measures could come into force before the end of 2026. 

In the meantime, the watchdog encourages veterinary businesses to make changes that “would benefit their customers,” and small veterinary companies will be given additional time for implementation.

The authority acknowledges that the proposed changes would require businesses to adapt systems or make other adjustments, potentially leading to some administrative costs. However, it states that its provisional view is that the benefits to consumers would far outweigh the costs to businesses.