Vet bills in the spotlight: what the CMA’s landmark reforms mean for pet owners

Following a 2.5-year investigation into the UK’s £6.7bn veterinary services market, the Competition and Markets Authority has confirmed legally binding measures to cap prescription fees, mandate transparent pricing, and give pet owners real choice for the first time.

A Market Under the Microscope

The UK veterinary sector has changed dramatically over the past decade. Around 60% of practices are now in corporate ownership, controlled by a handful of major groups including CVS, IVC Evidensia, Medivet, and Pets at Home – several backed by private equity. Over the same period, veterinary prices rose by 63% between 2016 and 2023, roughly twice the rate of general inflation, leaving pet owners struggling to compare costs, understand who owned their practice, or access cheaper medicines elsewhere.

In September 2023, the Competition and Markets Authority (CMA) launched a formal review. It received 56,000 responses, one of the most engaged consultations in the CMA’s history, and published its final report on 24 March 2026.

What the CMA Found

The investigation identified three core failures: a lack of pricing information that made it almost impossible for owners to compare practices; practical barriers, including prescription fees of £30 or more, that deterred people from sourcing medicines from cheaper online pharmacies; and a regulatory framework that had not kept pace with corporate consolidation. The Royal College of Veterinary Surgeons (RCVS) regulates individual vets but has limited reach over the businesses, not many of which are non-vet owned, that now control the majority of the market.

The Reforms: What Is Changing

The CMA’s legally binding package covers five main areas, with implementation beginning in late 2026.

Prescription fee caps. Written prescription fees are capped at £21 for the first medicine and £12.50 for additional items. Practices must also actively inform clients through their website and in all communications that they can request a written prescription and that substantial savings are often available from approved online pharmacies.

Mandatory price lists. Practices must publish comprehensive, publicly accessible price lists covering consultations, vaccinations, diagnostics, procedures, and cremation options, both online and in-practice.

Written estimates and itemised bills. For any treatment expected to exceed £500, practices must provide a written estimate in advance, including likely aftercare costs, and issue a fully itemised final bill on completion. Emergencies are exempt.

Ownership transparency. Veterinary businesses must make clear in their public branding whether they are part of a larger corporate group. The six major chains are expected to implement ownership labelling before the end of 2026.

Price comparison and complaints. The RCVS will run a new price comparison service, funded by a levy on veterinary businesses. Practices must also have formal complaints processes in place, with access to independent mediation where disputes cannot be resolved internally.

Responses and What Comes Next

The BVA broadly welcomed the transparency focus, while noting that practices face their own rising costs. Among corporate groups, reactions were largely positive – shares in CVS Group and Pets at Home rose on publication of the report, suggesting the sector had braced for more disruptive intervention. Independent practices have flagged concerns about the administrative burden, particularly for smaller businesses; the CMA has built in a three-month implementation extension for them.

The CMA has until 23 September 2026 to put legally binding Orders in place. Most remedies must then be implemented within three to twelve months. Alongside the Orders, the CMA has called urgently for a new Veterinary Surgeons Act – the current legislation dates to 1966 – to extend regulatory reach to cover veterinary businesses and their non-vet owners.

Sources

• Competition and Markets Authority — Final Report: Veterinary Services for Household Pets, 24 March 2026 (gov.uk)
• British Veterinary Association — CMA Investigation Resources and Response, March 2026 (bva.co.uk)
• The Webinar Vet — CMA Announces Major Reforms for the Veterinary Sector, April 2026 (thewebinarvet.com)
• Fieldfisher — CMA’s Final Report on Vet Services: What Businesses Need to Know, March 2026 (fieldfisher.com)
• Bird & Bird — Paws and Reflect: The CMA’s Final Report Confirms Major Reforms, April 2026 (twobirds.com)
• Veterinary Record — Veterinary Corporates Welcome CMA’s Final Report, March 2026 (onlinelibrary.wiley.com)
• Vet Times — CMA Transparency Rules: What Do You Need to Know?, April 2026 (vettimes.com)