The CMA says its main concerns remain the same as it outlined in March, namely whether consumers are getting enough information to make informed decisions, whether corporatisation is stifling competition in certain areas, whether corporate groups have incentives to act in ways that reduce choice, whether pet owners might be overpaying for medicines and whether the regulatory framework is outdated
Sarah Cardell, Chief Executive of the CMA, said: "The message from our vets work so far has been loud and clear – many pet owners and professionals have concerns that need further investigation.
"We’ve heard from people who are struggling to pay vet bills, potentially overpaying for medicines and don’t always know the best treatment options available to them.
"We also remain concerned about the potential impact of sector consolidation and the incentives for large, integrated vet groups to act in ways which reduce consumer choice.
"In March we proposed that a formal market investigation was the best route to fully explore these concerns and, if appropriate, take direct action to address them.
"That proposal has been overwhelmingly endorsed through our consultation.
"While we’re aware of acute staff shortages and difficult working conditions for vets, we consider a formal market investigation is essential to ensure good outcomes for the millions of pet owners in the UK as well as professionals working in the sector.
"The independent inquiry group will now take this investigation forward and, in the meantime, we’re publishing some tips to help pet owners better navigate vet services."
Meantime, the CMA has published 3 tips for pet owners, which are to look further than their nearest vet, to question treatment options and to consider buying medication elsewhere.
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