Have you ever wondered why hearing aids are so expensive, despite being an essential device for many people around the world? There are several practices within the supply chain for hearing aids that can increase hearing aid prices to several thousand dollars. Because of these issues within the hearing aid industry, the majority of products usually retail for $1,000 to $4,000.
The first reason why hearing aids are so expensive is that they are powerful pieces of technology that require yearly research and development to design and improve upon. Many different specialists are involved throughout this process, from sound engineers to audiologists. Because of the time and effort this requires, the hearing aid industry dedicates much of its products’ costs to this endeavor.
Another reason for the price of hearing aids is the realities of supply and demand. Compared to the other industries in the country, the hearing aid market is small. However, the industry has recently been growing as the demand for more affordable hearing aid prices increases.
Many companies have managed to reduce hearing aid prices by cutting out middleman costs, such as a salary and office space for audiologists who conduct hearing exams. Many companies require hearing exams before allowing customers to purchase hearing aids. Today, some companies are either offering online hearing tests or forgoing the requirement altogether.
One of these companies is HueHearing. By cutting out the middleman, Hue Hearing is able to offer hearing aids at prices as low as $68 per single earpiece and $132 per pair. To learn more about these affordably priced products, you can read HueHearing reviews online.