The UK's Competition and Markets Authority (CMA) has ordered veterinary practices to cap prescription fees at £21 for the first medicine and £12.50 for additional drugs, following a two-and-a-half-year investigation into the £6.7bn market. The watchdog found that pet owners have faced huge price rises and been 'left in the dark' over bills, with public satisfaction 'low' due to weak competition and dominance by large chains.
Under the new legally binding measures, vets must inform pet owners that medicines may be cheaper online and that they can obtain a prescription to save money. Practices must also publish price lists and provide written estimates for treatments costing £500 or more, excluding emergencies, along with itemised bills. The CMA estimates these changes could save pet owners hundreds of pounds.
Martin Coleman, chair of the independent inquiry group, said: '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.' He added that for the first time, vet businesses will be held to account by an independent regulator.
The CMA found that average vet service prices rose by 63% between 2016 and 2023, much faster than general inflation, with internal documents from large veterinary groups linking price increases to an expectation that pet owners would not switch providers. Over 60% of practices are owned by six large groups, including CVS, Pets at Home, and Linnaeus (owned by Mars Petcare).
Industry responses have been mixed. CVS said it was 'pleased' the CMA considered feedback on the fee cap, while the British Veterinary Association welcomed increased transparency but noted that rising costs are due to factors including higher business expenses. The CMA labelled the current 60-year-old regulatory regime 'outdated', as it applies to individual vets but not businesses.
