UK competition watchdog plans probe into veterinary market. Is the US next?

In a bid to address mounting concerns of potential exploitation within the veterinary market, the UK Competition and Markets Authority (CMA) has announced plans to launch a comprehensive investigation. The move follows a rapid consolidation within the industry over the past decade, which may have left millions of pet owners at a disadvantage.

Highlighted in the announcement on Tuesday, the CMA raised alarms over potential overpricing of medicines and prescriptions, affecting an estimated 16 million pet owners across the UK. The surge in consolidation, with nearly 60% of veterinary practices now owned by large corporations compared to just 10% in 2013, has attracted significant investment from global private equity firms such as CVC, EQT, and Silver Lake.