Many U.S. pet owners are baby boomers who are no longer raising children and are willing to use a share of their disposable income to increase the quality of life for their animal companions, The New York Times reported Sunday.

"As we become a more pet-friendly environment, people want to take care of their pets more," said veterinarian Jerrold Boone.

People considering whether to adopt a pet should consider the potential cost, veterinarians say.

"It's not unusual to have bills over $1,000, and that can have a major impact when people are not ready for that," said Anna Worth, a veterinarian in Vermont and president of the American Animal Hospital Association.

"Not only do you need to feed and house and water this wonderful new pet in your family but you have to figure out how much it's going to cost to do preventative care each year, and what if something major happens?" Worth said.

The American Pet Products Manufacturers Association says pet owners spent $10.1 billion on veterinary care and $9.8 billion on supplies and over-the-counter medicines last year. The American Veterinary Medical Association found that owners spent $24.5 billion on veterinary medicine in 2006.