Why are hearing aids in Singapore so expensive?

In the whole world, there are currently an estimated about 1.5 billion people(nearly 20% of the global population) who face hearing loss in their daily lives. Of the 1.5 billion people, an estimate 360000 which is Singapore citizens are facing hearing loss. Of the 360000 people, a quarter of them faces difficulty affording hearing aids in Singapore.

Average Markup of Hearing Aids

There are many different types of hearing aids in Singapore hence it is difficult to quote an exact price but the price ranges from S$800 for a basic device to S$8000 for an advanced premium device depending on the brand and model.

Factors influencing the cost of hearing aids

Type

The first factor that influences the cost of hearing aids is the type. There is a wide range of hearing aid types such as in-the-canal (ITC), behind-the-ear (BTE), completely-in-canal (CIC), and more. Each type differs in design and uses hence choosing the right type should follow the severity of the hearing loss and the lifestyle you have on a daily basis.

Features

Another factor that would influence the cost would be the features. The number of features a hearing aid has would determine the cost. The more features the device has, the pricier it can be as compared to basic models. Most of the functions are optional however allow the wearer to interact with their device through their daily lives efficiently.

Performance

Performance is also a factor that affects the cost of the device. Due to the advancements in hearing aid technology, there are digital versions of the device that are able to carry out features such as noise reduction and directional microphones that allow the wearer to listen more efficiently.

Design

Design is also another factor that affects hearing aid prices. Most hearing aid companies are investing in device styles that are sleek, modern, and discreet to the public. However, design should not necessarily be the main priority when choosing hearing aids as it should be prioritized towards the wearer’s needs first. Wearers that face dexterity problems should opt for more significant hearing devices.

Research and Development

A huge percentage of the cost of hearing devices is also due to the research and development that is carried out behind the scenes. Every year, millions of dollars are spent by the industry to work on advancing hearing aid technology to make it more powerful, compact, comfortable, and more natural sounding. The process of research and development also involves a lot of parties such as electrical engineers, audiologists, programmers, sound engineers, and more.

Customization

Another factor that affects the cost is the customization of hearing aids. Many expensive hearing aids must be custom molded to each particular ear. Customizing individual hearing aids takes skill, time, and effort by a certified audiologist which also makes the hearing aids more expensive.

Warranty

Some hearing aids are more expensive than others due to the presence of a warranty. Depending on the terms and conditions of the warranty, the wearer can be more assured that he/she will get a well-functioning device. Warranties can go up from a month to 3 years depending on the place you are getting it from.

Conclusion

The price of the hearing aid does not only consist of the cost to produce it but also consisting the cost to develop and advance it further. The number of features, the warranty of the device, initial fitting which falls under customization all affect the pricing of a hearing aid. However, the hearing aid should always be suited to your daily needs. Nonetheless, hearing aids are a long-term investment that will benefit and change the wearer’s style of living in the best way.

Why are hearing aids in Singapore so expensive?