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Review launched into vets amid fears pet owners are being overcharged as costs surge

Britain’s £2 billion veterinary industry is being scrutinised by the competition watchdog amid concerns that pet owners are not getting value for money and that the cost of care has soared faster than inflation.

The Competition and Markets Authority (CMA) is launching a review of the sector, looking at consumer experiences and vet business practices for household pets in the UK.

It is worried that pet owners are not given easy access to information about pricing and treatment options when deciding which vet to use and which services to buy. The regulator added that figures suggest that vet costs have also surged at a faster pace than wider inflation.

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With many independent vet practices being snapped up by bigger chains in recent years, it is concerned that pet owners may be not aware their vet is part of a group which owns others in their area, and possibly of services being sold to them, such as diagnostic tests or treatments at a specialist animal hospital.

“This could impact pet owners’ choices and reduce the incentives of local vet practices to compete,” according to the CMA.

Sarah Cardell, chief executive of the CMA, said: “Caring for an ill pet can create real financial pressure, particularly alongside other cost-of-living concerns.

“It’s really important that people get clear information and pricing to help them make the right choices.

“There has been a lot of consolidation in the vet industry in recent years, so now is the right time to take a look at how the market is working.”

The CMA said the number of independent vet practices has fallen sharply in recent years, with these accounting for 89% of the UK veterinary

Read more on manchestereveningnews.co.uk