Pet owners are being ripped off by the high prices charged by the big chains of vets that now dominate the £6 billion sector, a damning competition regulator’s report concludes today.
The Competition and Markets Authority (CMA) today proposed 21 measures to help consumers get better deals when they take their unwell cats, dogs, or rabbits in for treatment.
The CMA published its provisional findings of a two year investigation of a sector that has seen huge consolidation in recent years. Six large groups -owned by CVS, IVC, Linnaeus, Medivet, Pets at Home and VetPartners - now dominate the sector with small independent vets in a minority.
Almost two-thirds of households in the UK own a pet, with the number of pet owners increasing significantly during the pandemic.
The investigation found that on average vet prices rose by 63% between 2016 and 2023 - well above the rate of inflation. The CMA also found that pet owners pay 16.6% more on average at large vet groups than at independent vets.
For at least 3 of those large groups, average prices increased faster at practices they bought than at practices that remained independent.
The CMA said: “For a substantial part of the market as a whole, profits are much higher than they should be if competition was working well.”
Martin Coleman, chair of the inquiry group, said: "Pet owners are often left in the dark, not knowing whether their practice is independent or part of a chain or what a fair price looks like. They are sometimes committing to expensive treatment without understanding the price in advance. And they do not always feel confident asking for a prescription or buying medicine online - even when it could save them hundreds of pounds.
"Even where pet owners could access some of this information, it is difficult for them to compare prices and services - despite the fact that, in most of the country, there are several local practices they could choose between.
"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.
"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."
The CMA's proposed remedies include: requiring vet businesses to publish comprehensive price lists, and to make clear if they are part of a large group; making it easier for pet owners to access cheaper medicines online; capping the price of providing prescriptions at £16; requiring vets to give pet owners clear price information when they are choosing a treatment, with prices in writing for treatments over £500 and itemised bills; requiring vets to give clear price information to pet owners arranging a cremation; and requiring vets to give pricing breakdowns for pet care plans.
The CMA also said it “is concerned to hear that some vets and vet nurses face abuse from frustrated clients - they deserve respect, not hostility.”
The CMA's final decision will be published by March 2026. The reforms would be implemented through a legally binding CMA Order and could see some measures coming into force before the end of 2026. Small vet businesses will be given additional time for implementation.
The chief executive of Europe’s largest vets group IVC Evidensia last month hinted that his business would be unlikely to float in London if the UK competition regulator is too severe.
Simon Smith told The Times it would be “very difficult” to list IVC Evidensia in the UK if the Competition and Market Authority’s investigation led to “open-ended” remedies on the industry that could be varied again and again.
