The Competition and Markets Authority (CMA) has called for veterinary practices to be required to publish their price lists, enabling pet owners to see costs upfront and compare services.
This recommendation follows an investigation revealing that many pet owners are unaware of treatment costs, which can reach thousands of pounds, and often do not receive estimates before procedures.
The CMA found that veterinary prices have increased by 63% over seven years, nearly double the rate of inflation, with 84% of vet websites lacking any pricing information.
The watchdog's proposals also include requiring vets to disclose if they belong to large corporate groups, capping prescription fees, and banning bonuses tied to specific treatments.
The CMA's investigation highlighted that practices owned by large vet groups charge on average 16.6% more than independent clinics.
The current regulatory framework, established in 1966, regulates individual vets but not the businesses owning most practices, a gap the CMA aims to address.
Pet owners have expressed concerns about soaring vet bills, with some delaying treatment or opting for euthanasia due to costs.
For example, Nicole Hawley faced a £12,000 bill to treat her dog Ernie, who inhaled a grass seed that caused infection.
Without insurance, she and her partner took out a loan and used wedding savings to cover the expense.
Many vets offer subscription plans covering routine care, but prices and services vary widely.
Veterinary professionals acknowledge the complexity and cost of providing care, including expensive equipment and the need for anesthesia during procedures.
Some vets emphasize the importance of pet insurance and advise prospective owners to consider the financial responsibilities of pet ownership.
The British Veterinary Association supports greater transparency but cautions that comprehensive price lists must be carefully designed to avoid consumer confusion.
The CMA's provisional findings on the £6.3 billion veterinary sector are open for consultation until next month, with a final decision expected next year.
The resulting legally binding order is anticipated to be implemented by the end of 2026, with smaller practices given additional time to comply.
Animal welfare groups like the RSPCA welcome the move, noting that clearer pricing could help prevent delays in seeking veterinary care and improve trust in the industry.