Why are hearing instruments so expensive?

There are many reasons for the high cost of hearing instruments. Research and development costs are part of the cost. Manufacturers spend millions of dollars every year on never-ending research and development trying to build the best hearing instruments possible. The economies of scale; the hearing instrument market is relatively small, with only about 2 million hearing instruments sold each year. While that sounds like a lot it represents only 2% of the population. Despite what the inter-net may lead one to believe, hearing instruments are not an off the shelf consumer product. They are medical devices regulated by the Food and Drug Administration. Hearing health care professionals spend a significant amount of time with each and every individual being fit with amplification. Time is spent testing, during the initial fitting, follow-up visits, verifying benefit, making adjustments and counseling. These services often are provided for the life of the instrument. Equipment needed to ...  more