(Reuters) -Britain’s competition regulator on Wednesday proposed sweeping reforms to the country’s veterinary services market after a probe found that pet owners often lack clear price information and could save hundreds of pounds on medicines.
The current regulatory system was “not fit for purpose” and must be modernised to ensure pet owners are protected, the Competition and Markets Authority said in a statement.
The regulator said pet owners pay about 17% more on average at large veterinary chains than at independent clinics, with average prices across the sector surging 63% between 2016 and 2023, and far outpaced inflation.
The probe, launched in September 2023, led to a formal inquiry into whether market practices restrict competition or cause pet owners to overpay.
The CMA’s 21 proposed measures include requiring vet businesses to publish comprehensive price lists, capping prescription fees at 16 pounds, and creating a price comparison website to help owners choose between local practices.
“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,” Martin Coleman, chair of the inquiry group, said in a statement.
The final decision will be published by March 2026, the CMA said, with some measures potentially coming into force before the end of next year.
(Reporting by Nithyashree R B and Yadarisa Shabong in Bengaluru; Editing by Mrigank Dhaniwala and Nivedita Bhattacharjee)
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