The Competition and Markets Authority (CMA) has launched a review of veterinary services in the UK following concerns that pet owners may be overcharged. The regulator noted that vet fees have been rising faster than other goods and services during the cost-of-living crisis, with consumer group Which? describing bills as “eye-watering”.
The review comes as the vet industry is valued at £2 billion, with pet ownership rising to about 60% of UK households during the pandemic. The CMA expressed concerns that pet owners often do not shop around for the best deal when their animals need urgent treatment, leaving them vulnerable to high costs. Examples include booster jabs averaging £45 and emergency procedures costing thousands.
One pet owner, Lisa from Liverpool, paid around £6,000 for her French bulldog Ace’s emergency spinal surgery last December. She said one vet quoted £1,000 for a consultation and up to £11,000 for an MRI and surgery, but she found a cheaper option at a teaching hospital. The CMA also highlighted the rapid consolidation of vet practices, with independent practices falling from 89% in 2013 to about 45% in 2021, potentially reducing competition.
The British Veterinary Association (BVA) responded that it supports healthy competition but has not seen evidence that corporatisation is driving up prices. BVA president Malcolm Morley noted that soaring inflation is impacting both pet owners and vet practices. The CMA’s probe also affected shares in Pets at Home, which fell nearly 9% on the news.
