Britain’s Competition and Markets Authority (CMA) has announced sweeping reforms to the UK’s $8 billion veterinary sector, aiming to increase transparency, improve competition, and reduce costs for pet owners. The regulator’s review found that many consumers overpay for veterinary medicines and are often unaware of how prices compare across clinics.

CMA Unveils 21 Measures to Reform the Veterinary Market

The CMA’s provisional findings from its in-depth market investigation outlined 21 proposed measures that could reshape how veterinary services operate in the UK. The recommendations are designed to give pet owners more visibility into prices and services, ensuring they can make informed decisions when seeking veterinary care.

Among the proposed changes, the CMA suggested that veterinary practices must:

• Publish clear, comprehensive price lists for common procedures and medicines.
• Create an independent price comparison website for pet care services.
• Cap prescription fees at £16 to prevent excessive charges for medication.
• Disclose ownership structures, ensuring clients know whether their vet is an independent practice or part of a large corporate group.

Martin Coleman, chair of the CMA’s inquiry group, emphasized the need for transparency in the sector.

“Pet owners are often left in the dark, not knowing whether their practice is independent or part of a chain or what a fair price looks like,” Coleman said.

Market Reaction: Veterinary Stocks Surge

The CMA’s report was largely in line with industry expectations, easing investor uncertainty. Shares of CVS Group (CVSG.L), which operates more than 470 veterinary practices across the UK and Australia, jumped as much as 18% in early London trading. Similarly, Pets At Home (PETSP.L) — another major player named in the investigation — saw its shares climb 4.5%.

Analysts from RBC Capital Markets said the CMA’s proposals “should finally remove the overhang from the sector,” as they did not include any forced asset divestments. Instead, the focus remains on transparency and fair competition, particularly in the veterinary pharmaceuticals market, rather than imposing strict price controls.

Pricing Disparities and Consumer Concerns

According to the CMA’s findings, pet owners pay about 17% more on average at large veterinary chains compared to independent clinics. Between 2016 and 2023, average prices across the sector rose by 63%, far outpacing inflation.
This rapid increase has led to growing frustration among pet owners, many of whom say they are confused by complex pricing structures and limited access to affordable alternatives.

The CMA also highlighted concerns that some pet owners are unaware that their local vet may be part of a larger corporate group, which could influence pricing and prescription policies.

Industry Response and Next Steps

In response to the regulator’s findings, CVS Group said it already plans to introduce joint branding across its practices and publish standardized price lists, aligning with some of the CMA’s proposed reforms. However, the company also noted that not all of the proposed measures are fully justified, suggesting further consultation may be needed.

The CMA’s final report is expected by March 2026, but some reforms — such as pricing transparency and online comparison tools — could be implemented before the end of 2025.

A Turning Point for the UK Veterinary Sector

The CMA’s proposals mark one of the most significant interventions in the UK veterinary industry in decades. With more than 17 million pet-owning households in Britain, the reforms could have wide-reaching implications for how pet care is delivered and priced.

If implemented, the measures are expected to:

• Drive greater price transparency across the industry.
• Encourage competition between independent and corporate practices.
• Reduce the financial burden on pet owners.
• Build consumer trust through clearer communication and fair pricing.

The CMA’s investigation has already prompted debate among veterinary professionals, pet owners, and investors, who are watching closely as the sector prepares for a new era of accountability and transparency.