The Competition and Markets Authority, which has been investigating the sector since 2023, said price caps should be placed on prescriptions provided by vets to stop pet owners from being ripped off.
It found customers could be paying twice as much for commonly prescribed medicines from vet practices than they could pay online, leaving them spending “hundreds of pounds more”.
It said vets should have a prescription fee cap of £16 and should be required to tell customers about savings they could make by buying medicines online.
“These measures will help prompt consumers to consider buying medication online and protect them from having to pay excessive prices for the prescriptions they would need to do so,” it said.
“Pet owners pay 16.6% more on average at large vet groups than at independent vets. For at least three of those large groups, average prices increased faster at practices they bought than at practices that remained independent.”
The CMA’s 21 proposed measures include:
- A requirement for vet businesses to publish comprehensive price lists
- Changes to make it easier for pet owners to access cheaper medicines online
- Requiring vets to give clear price information to pet owners arranging a cremation
- Giving pet owners clear price information when they are choosing a treatment, with prices in writing for treatments over £500 and itemised bills
“The current regulatory system is not fit for purpose. It only regulates individual veterinary professionals and not vet businesses, despite the majority of practices being part of a large corporate group,” the CMA report found.
Martin Coleman, chair of the inquiry group, said: “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.
“They are sometimes committing to expensive treatment without understanding the price in advance. And they do not always feel confident asking for a prescription or buying medicine online – even when it could save them hundreds of pounds.
“Even where pet owners could access some of this information, it is difficult for them to compare prices and services – despite the fact that, in most of the country, there are several local practices they could choose between.
“We believe that our proposals would enable pet owners to choose the right vet, the right treatment, and the right way to purchase medicine – without confusion or unnecessary cost.”
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