Pets at Home has welcomed the Competition & Markets Authority opening its vet market investigation and said it would “open up a conversation about much needed change and reform within the veterinary profession”.

In March, the CMA warned it would launch a formal investigation as it revealed pet owners could be over paying for medicine or prescriptions due to failures in the sector.

As the probe opens, a spokesperson for Pets at Home, said: “We will continue to fully co-operate with the CMA to ensure our unique and pro-competitive business model of locally-owned vet practices is fully understood.

“Whilst our brand is national, our veterinary practices are led by individual entrepreneurial vets who have clinical and operational freedom and work tirelessly to always put pets needs first.”