Following the launch of its market investigation into the vets sector, the Competition and Markets Authority has published an issues statement which sets out the Inquiry Group’s initial theories on what might be affecting competition in the sector and the potential solutions or ‘remedies’ that could be considered.

These reflect the concerns and potential remedies set out during the CMA’s market review. The issues statement covers the types of further evidence the Group plans to collect in order to test these theories and explore any remedies needed.

The issues statement does not set out any findings or conclusions at this early stage of the investigation – it is for the Group to determine whether there are competition concerns in the market and how best to address them.

In determining its initial areas of focus, the Group – chaired by Martin Coleman – has considered all the work carried out so far, including evidence gathered during the market review and responses to the consultation on whether to launch a market investigation.

The Group will gather a wide range of evidence including information from veterinary professionals and businesses of all sizes, suppliers to those businesses, regulators and pet owners. The Group plans to hold hearings and roundtables, visit veterinary practices and referral hospitals to understand the vet sector more fully, and publish working papers to share its emerging thinking at certain points in the investigation.

At this early stage in the investigation, publishing this issues statement will assist those submitting evidence to focus on the issues the Group is most concerned about. As the investigation progresses, further issues may be identified.

The CMA must generally conclude a market investigation within 18 months from the date that the reference is made (with a potential additional 6 months for putting remedies in place) and the final report is expected by November 2025 at the latest.

The consultation on this issues statement is open until midnight on 30 July 2024 and responses should be sent to vetsMI@cma.gov.uk. The Group will consider the views it receives as part of its ongoing investigation. 

For more information, including the full administrative timetable and members of the Inquiry Group, visit the Vets case page. This page includes a video of Martin Coleman, Chair of the Inquiry Group, and a member of the case team answering questions about the investigation.