The Competition and Markets Authority (CMA) has taken the next step in its market investigation into the veterinary services sector. The Inquiry Group, comprised of independent experts, has outlined its areas of focus.
Following the launch of the investigation, the CMA has published an issues statement detailing the Inquiry Group’s initial theories on what might be affecting competition in the sector and potential solutions. This document reflects the concerns and possible remedies identified during the CMA’s market review.
The issues statement aims to outline the types of further evidence the Group plans to collect. This will help in testing the initial theories and exploring any necessary remedies. It is important to note that this statement does not present any findings or conclusions. The Inquiry Group, led by Martin Coleman, will determine whether there are competition concerns and how to address them.
Comprehensive Evidence Gathering
To gain a thorough understanding of the veterinary sector, the Inquiry Group will collect a wide range of evidence. This will include information from veterinary professionals, businesses of all sizes, suppliers, regulators, and pet owners. The Group plans to hold hearings, conduct roundtables, and visit veterinary practices and referral hospitals. Working papers will be published to share emerging thoughts at various points during the investigation.
Publishing the issues statement early in the investigation will help those submitting evidence to focus on the most pertinent issues. As the investigation progresses, additional issues may be identified.
Timeline and Consultation Process
The CMA is required to conclude a market investigation within 18 months from the date the reference is made, with a potential extension of six months for implementing remedies. The final report is expected by November 2025 at the latest.
The consultation on the issues statement is open until midnight on 30 July 2024. Responses should be sent to vetsMI@cma.gov.uk. The Inquiry Group will consider all views received as part of its ongoing investigation.
