UK CMA Reforms Vet Services for Transparency and Competition

The UK's Competition and Markets Authority has announced a series of reforms to the veterinary services sector, capping prescription fees at £21 for the first medicine and £12.50 for additional ones, while requiring practices to publish comprehensive price lists. The measures, set to become legally binding from September 23, aim to increase transparency and competition in a market where pet owners have often faced unclear pricing and limited options.

The reforms follow a three-year investigation by the CMA, which concluded that pet owners were frequently overcharged for routine medicines and services. The watchdog found that veterinary prices rose by 63 percent between 2016 and 2023, nearly twice the rate of inflation, partly due to a lack of information that hindered informed decision-making. Less than 40 percent of practices displayed prices online, and ownership details were often opaque, with fewer than half of customers aware their local vet was part of a larger corporate group. Additionally, over 70 percent of pet owners purchased long-term medications directly from vets, despite potential savings of £200 or more annually by obtaining written prescriptions and buying online.