London: The United Kingdom’s Competition and Markets Authority (CMA) has called for sweeping reforms in the country’s veterinary services sector, a market valued at over £8 billion. The announcement comes amid growing concerns over rising costs, opaque pricing structures, and limited transparency in veterinary services, which have increasingly burdened pet owners across the nation.
The CMA’s review found that pet owners are paying significantly more at larger veterinary chains compared to independent clinics, with price differences averaging around 17%. Between 2016 and 2023, veterinary costs surged by 63%, far outpacing general inflation, leaving many owners financially strained when seeking care for their pets. The regulator highlighted that unclear pricing and high prescription costs were central issues undermining trust and competition in the sector.
To address these concerns, the CMA proposed 21 major reforms aimed at improving transparency and promoting fair competition. Key measures include mandatory public display of service and medication prices by veterinary practices, the creation of a centralized price comparison platform for pet owners, and capping prescription fees at £16 to prevent excessive markups. Collectively, these initiatives are designed to empower consumers with better information and enable more informed decisions about veterinary care.
The market reacted swiftly to the CMA’s proposals. Shares of CVS Group, which operates approximately 470 veterinary practices in the UK and Australia, surged by 18% following the announcement. Similarly, Pets At Home experienced a 4.5% increase in stock value. Market analysts noted that the reforms, while regulatory in nature, could enhance consumer confidence and stabilize pricing expectations across the sector.
Industry response has been cautious yet cooperative. CVS Group indicated a willingness to implement some of the proposed changes but questioned the necessity of the full suite of reforms. The company suggested that certain measures could be fast-tracked, potentially reducing the need for the CMA’s extensive 18-month investigation timeline.
The CMA has set a target to finalize its decisions on the reforms by March 2026. However, specific measures such as the prescription fee cap could be implemented as early as late 2025. The regulatory push is expected to reshape the UK veterinary landscape, fostering a more transparent, competitive, and consumer-friendly environment that benefits pet owners while maintaining high standards of animal care.