Core Insights - The 2025 Pet Lifetime of Care Study by Synchrony reveals a significant increase in lifetime pet care costs, with costs for dogs rising over 10% and nearly 20% for cats compared to 2022 findings [1][2][5] - The study indicates that nearly 80% of pet owners underestimate the lifetime care costs for their pets, highlighting a gap between perceived and actual expenses [1][2][3] Pet Care Cost Trends - The average lifetime cost of dog ownership is estimated to range from $22,125 to $60,602, an increase from the previous range of $20,000 to $55,000 [5][6] - For cats, the estimated lifetime care costs range from $20,073 to $47,106, reflecting a 19.4% increase from previous estimates [5][7] - Small companion animals, such as hamsters and guinea pigs, have an estimated lifetime care cost of $7,600 to $14,938 over a 6-year lifespan, while owners expect to spend less than $3,000 [4][5] Financial Preparedness and Solutions - A growing number of pet owners are facing unexpected expenses, with 74% reporting costs exceeding $250, while only 31% feel comfortable managing major pet expenses [2][3] - Financial worry related to pet care has increased from one in three pet owners in 2022 to nearly one in two in 2025, indicating a rising economic impact [3] - 58% of pet owners have utilized credit cards for pet care, and only 20% have dedicated savings or insurance for emergencies [3][6] Technological Investments in Pet Care - Dog owners are increasingly investing in health insurance and wellness plans, with annual costs rising from $198 to $313 for insurance and from $422 to $701 for wellness plans [5][6] - Cat owners are also embracing technology, with annual costs for tech-related products nearly doubling, reflecting a shift towards preventive care and enhanced wellbeing [7][8] Study Methodology - The 2025 Lifetime of Care study surveyed 4,861 pet owners between January 31 and February 22, 2025, focusing on spending patterns and challenges associated with pet care costs [10]