CMA concludes market investigation with major reforms to veterinary sector
|
Legally binding measures include price lists, prescription fee
caps, a price comparison website and mandatory branding by the
large groups to boost competition and drive down prices Pet owners
using a vet practice that is part of a larger chain can expect to
see changes before Christmas – including standard price lists The
Competition and Markets Authority (CMA) has today concluded its
investigation into veterinary services for household pets in the
UK, after an...Request free trial
The Competition and Markets Authority (CMA) has today concluded its investigation into veterinary services for household pets in the UK, after an independent inquiry group found that the current system is leaving pet owners in the dark. A lack of information that helps people make informed decisions is leading to weak competition and high prices. An unprecedented response from both the public and the sector has help to shape the CMA's final report, which green lights a package of measures to make the market more competitive, easier to navigate and more responsive to pet owners' needs. The investigation has intensified public scrutiny of the veterinary services industry, yet the professionalism, compassion, and commitment to animal welfare shown by veterinary professionals remains unquestioned. Martin Coleman, Chair of the independent Inquiry Group, said: This is the most extensive review of veterinary services in a generation, and today's reforms will make a real difference to the millions of pet owners who want the best for their pets but struggle to find the practice, treatment and price that meets their needs. Too often, people are left in the dark about who owns their practice, treatment options and prices – even when facing bills running into thousands of pounds. Our measures mean it will be made clear to pet owners which practices are part of large groups, which are charging higher prices, and for the first time, vet businesses will be held to account by an independent regulator. Our changes put pet owners at the centre but also help vets by enhancing trust in the profession and protecting clinical judgement from undue commercial pressure – and that is important to ensure our pets continue to get the best care. Key remedies The report outlines the final remedies and recommendations which together will transform the market. More details on when the changes will happen can be found in the timetable for remedies.
Regulation and legislative reform Competition alone is not enough to protect consumers. The current legal regime is 60 years old, outdated, and applies to individual vets but not businesses or practices – leaving key parts of the system unregulated and allowing the very concerns we have identified to emerge. The CMA has been clear from the outset that modern legislation is overdue, and that consumers would benefit from tougher monitoring and enforcement of regulatory standards. It therefore backs the government's proposed reforms to the Veterinary Services Act which, for the first time, would make veterinary businesses as well as individuals accountable to an independent regulator. That accountability would cover the protection of consumers and fair competition in addition to clinical standards. The proposals also support the CMA's call to protect the title of veterinary nurses and expand the range of tasks they can undertake. The RCVS will take a central role in monitoring compliance by businesses and individual practitioners, running the comparison service and supporting our remedies. The costs of these activities will be funded by a levy on veterinary businesses in proportion to the size of their business. The CMA's current estimate suggests this would be no more than £150 to £250 per practice to cover the RCVS's initial set up costs and £450 to £550 annually per practice to cover the RCVS's ongoing costs. Secretary of State for Environment, Food and Rural Affairs, Emma Reynolds said: We are grateful for all the work of the Competition and Markets Authority. This government is focused on helping families save money on vet services by improving transparency and choice around pricing, so the public can make informed decisions about their pets' care. We will respond to the report and set out next steps for our proposed reforms in due course. Next steps The final report marks the end of the market investigation. The next stage gives the CMA 6 months to put in place legally binding Orders on businesses and to accept undertakings from the RCVS or impose an Order, to implement these remedies. These will therefore be in place by 23 September 2026. Once the CMA Orders are made, nearly all remedies will be in place in the following three to 12 months. For most of the remedies, smaller veterinary businesses will have 3 months longer to implement the proposed changes than larger businesses. The CMA will work closely with the sector, including the RCVS, British Veterinary Association (BVA) and British Veterinary Nursing Association (BVNA), to ensure businesses understand what is required of them and by when, strengthening competition and helping the sector deliver better outcomes for pets and their owners. The independent Inquiry Group's full decision is available on the case page . An explainer for veterinary businesses on the remedies package is also provided. Notes to editors:
|