Danni Hewson, head of financial analysis at AJ Bell, said: “The UK vet sector is worth a staggering £6.3 billion with much of that cash concentrated on just six mega firms including Pets at Home, CVS Group and Linnaeus which is owned by Mars Petcare.
“The Competition and Markets Authority has been investigating how changes in the sector have impacted competition and filtered through to the prices being paid by UK pet lovers.
“It’s found that prices have shot up in the past seven years and that owners are paying on average nearly 17 per cent more at large pet groups than at independent vets and has now published 21 recommendations that will have a marked impact on the sector.
“Dealing with a sick pet is hard enough without being hit with unexpectedly high charges and amongst the measures being recommended by the CMA is more transparency with prices for services listed on company websites, which should make it easier for pet owners to shop around.
“As part of the total overhaul of the system vets will be required to point pet owners to cheaper medicines if they’re available online, and there will be price caps on things like prescriptions and services like cremations.
“Pet ownership surged during lockdowns as people sought companionship, but the cost of living crisis has pushed many people to the limits of their personal budgets, so a visit to the vet can be enough to push those finances over the edge.
“For the sector this represents a significant change and there have been warnings that it could result in money flowing out of UK markets.”
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