Britain's competition authority will investigate the veterinary market over concerns that pet owners are overpaying for treatment.
The Competition and Markets Authority (CMA) said it had heard from thousands of people who struggle to pay for vet bills and don't always know the best treatment for their pets.
The veterinary industry is worth £2bn after pet ownership rose to two-thirds of UK households during the coronavirus pandemic.
The British Veterinary Association welcomed the review, saying regulations for the veterinary industry were “woefully outdated”.
The CMA launched a survey last year asking people if they were concerned they were paying too much, and received 56,000 responses from pet owners, vets and charities.
The association raised concerns earlier this year that pet owners do not have basic information, such as price lists, available online and may not necessarily be informed of the cost of treatment before agreeing to veterinary treatment. expressed.
The CMA has now launched a formal investigation, which could mean direct market intervention in the future.
Regulators outlined three tips for pet owners looking for treatment.
- Prices and services vary by clinic, so check other clinics other than your local one.
- Ask if there are other treatments available
- If treatment is not urgent, consider purchasing medications elsewhere, such as online pharmacies or specialty pet stores.
“The message from veterinarians' work so far is clear: many pet owners and professionals have concerns which require further investigation,” said Sarah Cardell, chief executive of the CMA.
“We hear from people who are struggling to pay for veterinary care, may be overpaying for medications, and don’t always know the best treatments available to them. '' she says.
“We also remain concerned about the potential impact of sector consolidation and the incentives for large integrated veterinary practice groups to take actions that reduce choice for consumers.”
The watchdog said its investigation would look into:
- Are consumers getting the right information to make informed decisions?
- Limited veterinary options in some areas affecting pet owners
- Profit levels in the veterinary business
- Whether the veterinary industry has the incentive and ability to limit consumer choice in providing treatments and services;
- Should market regulations be changed?
A formal investigation would mean the CMA could step in and force companies to make changes.
Possible remedies could include forcing companies to provide certain information to consumers, imposing maximum prescription fees, and ordering the sale or separation of the business, the report said. He said there is.
Malcolm Morley, senior vice-chair of the British Veterinary Association, told the BBC's Today programme that the trade body was “very keen” to investigate and had worked closely with the CMA over recent months.
“Some of the issues the CMA is raising are ones we've been raising for a long time,” he said.
“Regulations for vets and veterinary practices are woefully outdated and not fit for purpose.”
He added that the area of purchasing medicines online also needs to be explored.