Summary
Rising costs in the veterinary market are causing concern among pet owners in the UK. A government agency is investigating to find ways to make vet services more transparent and affordable. Ownership of vet practices is becoming concentrated, with more being owned by large corporations, which some believe is driving prices higher.
Key Facts
- Vet bills have increased by 63% from 2016 to 2023, outpacing inflation.
- A government agency called the Competition and Markets Authority (CMA) is investigating the veterinary industry.
- By 2023, 60% of UK vet practices are owned by large corporate groups, up from 10% in 2013.
- High-tech treatments for pets are contributing to rising costs.
- In 2024, UK pet owners spent £6.3 billion on vet and pet-care services, averaging £365 per household.
- Vet service prices vary across the UK, with emergency consultation fees ranging from £142 in Yorkshire to £295 in Manchester.
- The CMA aims to increase transparency in pricing and ownership of vet practices.
- The CMA may also suggest easier access to cheaper medicines online.
