UK vets may have to obtain a licence and cap prescriptions for pet medicine at £21 under reforms being considered by the government, as part of a broader crackdown on rising fees and lack of competition. The proposals, outlined in a white paper published on Thursday, also include establishing a new regulator for the veterinary sector, with powers to conduct inspections and enforce compliance.
Mandatory licensing and price transparency
Every veterinary practice could be required to hold an official operating licence, similar to GP surgeries and care homes. Mandatory price lists and transparency over ownership structures would also be introduced, allowing pet owners to compare costs more easily. The reforms aim to address concerns that large corporate groups dominate the market, reducing choice and driving up prices.
More than 60% of veterinary practices are now owned wholly or partly by six groups: CV, Pets at Home, Medivet, IVC, VetPartners (owned by private equity), and Linnaeus (owned by Mars Petcare, a subsidiary of Mars). The Competition and Markets Authority (CMA) earlier this year found that public satisfaction with the cost of services was “low” and that competition between veterinary businesses was weak.
Pet owners face soaring costs
Pet owners spent over £6.7bn on veterinary and other services in 2024, equating to £390 per pet-owning household. Some procedures, such as cruciate ligament surgery for dogs, can cost £5,000 or more. Emma Reynolds, the environment secretary, said: “Pets are part of the family, but for too many households the cost of caring for them has become a real worry. These reforms will help owners avoid unexpected bills, compare prices more easily and get the best value care for their pets.”
The white paper notes that the Veterinary Surgeons Act, which currently governs the profession, dates from the 1960s, when the industry was largely made up of agricultural practices and small family-run businesses. Today, most vets focus on small animal care, and the sector is dominated by a handful of monopolies.
CMA backs regulatory overhaul
Sarah Cardell, chief executive of the CMA, said: “We back the government’s proposals, which include our recommendations on regulating the sector. For the first time, these proposals would ensure that vet businesses are accountable to an independent regulator, while offering consumers more protection and a fairer deal.”
The reforms follow the closure of Great Western Exotics, the UK’s only training centre for avian medicine, which shut down earlier this year after being bought by a large conglomerate. Campaigners have warned that the rise of private equity in the veterinary sector is reducing consumer choice and prioritising profit over pet care.
