CMA identifies multiple concerns in vets market

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Summary:

The Competition and Markets Authority (CMA) has decided to conduct a market investigation into the UK's veterinary services sector. The review highlights multiple concerns, including:

1. Consumers may not have sufficient information to choose the best veterinary practice or treatment option.
2. Concentrated local markets may be leading to weak competition in some areas.
3. Large integrated groups may have incentives to reduce choice and weaken competition.
4. Pet owners may be overpaying for medicines or prescriptions.
5. The regulatory framework is outdated and may no longer be fit for purpose.

The CMA has collected over 56,000 responses from the public and veterinary industry, which will inform the investigation. The investigation will focus on:

Whether consumers have sufficient information to make informed choices
Potential competition issues arising from concentrated local markets
How large integrated groups operate and their potential impact on competition
Pet owner experiences and potential overpayment for medicines or prescriptions
* The effectiveness of the regulatory framework

The CMA is seeking feedback from stakeholders through a 4-week consultation, which closes on April 11, 2023.