UK’s Antitrust Watchdog Launches Full ‘Market Investigation’ of the Veterinary Sector

May 25, 2024

The Competition & Markets Authority (CMA) recently ANNOUNCED that it will proceed with a formal ‘market investigation’ into the United Kingdom veterinary services market for household pets — after an initial review raised concerns about pricing and competition.

The CMA expects to use the market investigation to further explore whether:

  • Consumers are getting the information they need, at the right time, to make informed decisions.
  • A limited choice of vet businesses in some local areas is impacting pet owners.
  • profits earned are consistent with the levels expected in a competitive market.
  • Vet businesses have the incentive and ability to limit consumer choice when providing treatments or recommending related services, particularly when they are part of large integrated groups.
  • The regulatory framework is preventing the market from functioning as well as it could.

The United Kingdom is one of the most concentrated veterinary markets in the world where practices are owned and operated by a small number of corporate groups. In 2013, independent veterinary practices accounted for 89% of the veterinary market in the UK. By 2021, its market share has plummeted to 45%.

More than half of the veterinary practices in Britain are owned by 6 companies. The largest veterinary groups are CVS Group, Independent Vetcare Ltd, Linnaeus, Medivet, Pets at Home and VetPartners.

RELATED:

British Veterinary Association responds as Competition and Markets Authority launches ‘market investigation’ of the veterinary sector (5.23.24)
https://www.bva.co.uk/news-and-blog/news-article/british-veterinary-association-responds-as-competition-and-markets-authority-launches-market-investigation-of-the-veterinary-sector/

CMA: Veterinary Services Case Page
https://www.gov.uk/cma-cases/veterinary-services-market-for-pets-review

UK’s Antitrust Watchdog Launches Review into Rising Prices in Veterinary Services Market for Pets (9.8.23)
https://www.pets.care/news/2023/09/cma-launches-review-into-rising-prices-in-uk-veterinary-services-market-for-pets/

  • “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” — according to the chief executive of the CMA.