A review into the prices of veterinary care has been launched over concerns of "eye-watering" costs faced by UK pet owners.

The Competition and Markets Authority (CMA) said that fees in this sector were rising faster than any other goods and services during the cost of living crisis.

The CMA said that when it comes to urgent treatment, owners may not have all the information they need to make an informed decision.

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During its work with the CMA, consumer group Which? said that pet owners often do not know the price of treatment until their appointment, forcing consumers to foot "eye-watering" bills.

It was also said that Brits had difficulties shopping around for cheaper medications and treatments.

While many more became pet owners during the pandemic, some are now struggling to keep up with the costs associated with ownership.

The CMA said that because of this, more was needed to be done to ensure prices from vets are fair.

Less than half of vets found to be independently owned in the UK

Barrhead News: Less than half of UK vets are independently owned (Canva)Less than half of UK vets are independently owned (Canva) (Image: Canva)

It was also concerned by the rapid changes in vet ownership over the last decade in the UK.

It found that 89% of vets were independent practices in 2013 with these dropping to about 45% in 2021.

The CMA said: "In some cases, a single company may own hundreds of practices and it may be unclear to people whether their vet is part of a large group.

It added: "This could impact pet owners' choices and reduce the incentives of local vet practices to compete".

The review will hear from pet owners, veterinary surgeons and nurses with an update regarding the next steps being provided in 2024.