The Competitions and Markets Authority (CMA) has acted to protect pet owners from unfair pricing, launching a review into veterinary services for household pets. The issue has been exacerbated by the explosion in pet ownership during the pandemic and large conglomerates taking control of veterinary practices.

Independent practices accounted for 45% of all practices in 2021, compared with 89% in 2013, giving pet owners less options to shop around and get better deals. The cost of owning a pet could be between £5,000 and £16,000 ($6,238 – $19,963) according to the People’s Dispensary for Sick Animals. Much of this will be spent on vet’s fees.

Cost of living crisis

Households are under strain from the rising cost of living and it is important that pet owners get value for money from their vets – but figures suggest that the cost of vet services has risen faster than the rate of inflation, which is something that the CMA will be looking into as part of its review, the CMA said.

“When a pet is unwell, they often need urgent treatment, which means that pet owners may not shop around for the best deal, like they do with other services. This means they may not have the relevant information to make informed decisions at what can be a distressing time. We want to hear from pet owners and people who work in the sector about their experiences,” Sarah Cardell, chief executive of the CMA, said.

The CMA would like to hear from pet owners, veterinary surgeons, veterinary nurses, practice managers and veterinary businesses as part of this work. To get in touch please visit the case page.

The CMA will provide a further update on this review in early 2024, outlining the issues it has identified and its proposed next steps.