UK vets may have to obtain a licence and cap prescriptions for pet medicine at £21 under plans being considered by the government. Ministers are also evaluating the establishment of a dedicated regulator for the veterinary sector, which would include inspections, a mandatory licensing system, and published compliance reports to enhance accountability and consumer choice. Every veterinary practice could be required to hold an official operating licence—similar to GP surgeries and care homes—under proposals outlined in a white paper.
High Costs and Lack of Competition
Pet owners have faced high bills and limited competition among veterinary practices, many of which have been acquired by large monopolies. More than 60% of veterinary practices are wholly or partly owned by six groups: CV, Pets at Home, Medivet, IVC, and VetPartners—all owned by private equity investors—and Linnaeus, whose parent company is Mars Petcare, a subsidiary of the US confectionery group Mars.
Mandatory price lists and transparency over ownership structures could also be introduced under measures detailed in the white paper, published on Thursday. The Competition and Markets Authority (CMA) earlier this year found that public satisfaction with the cost of veterinary services was “low” and that there was “not strong competition between veterinary businesses,” with large chains dominating the market.
Government Response and Consumer Impact
Emma Reynolds, the environment secretary, said: “Pets are part of the family, but for too many households the cost of caring for them has become a real worry. These reforms will help owners avoid unexpected bills, compare prices more easily and get the best value care for their pets. We’re modernising a system that hasn’t been updated for 60 years, putting pet owners first while giving vets the modern framework they need to support the future of the profession.”
Pet owners spent more than £6.7 billion on veterinary and other services in 2024, equating to £390 for every pet-owning household. Some spend significantly more; for example, surgery for cruciate ligament disease—a common procedure for dogs—can cost £5,000, sometimes more.
Industry Changes and Regulatory Need
Ministers said the changes were necessary because the industry today is radically different from the 1960s when the Veterinary Surgeons Act was introduced. At that time, the industry largely consisted of agricultural vet practices and small, family-run businesses. Now, most vets focus on small animal care, and practices are operated by a handful of monopolies.
Sarah Cardell, the chief executive of the CMA, said: “We back the government’s proposals, which include our recommendations on regulating the sector. For the first time, these proposals would ensure that vet businesses are accountable to an independent regulator, while offering consumers more protection and a fairer deal.”
Impact of Private Equity on Veterinary Care
Earlier this year, Great Western Exotics—the leading exotics animal vet and the only training centre in the UK for avian medicine—shut down after being acquired by a large conglomerate. Campaigners have argued that the rise of private equity in the veterinary sector has reduced consumer choice and resulted in a focus on profit over pet care.
