Chip Shortage and hearing aids are linked. Yes, you heard it right, the global chip shortage crisis which began in 2020 is, unfortunately, an issue which is still very much relevant today. The demand for integrated circuits (otherwise known as semiconductor chips) continues to exceed the supply, leading to major earning losses for more than 169 industries. Chip shortage and hearing aids are closely intertwined, with the supply crisis continuing to influence production and availability of essential hearing technology.
The reasons behind the circuit shortage are complex, but one of the main causes has been the COVID-19 pandemic. Not only has it fueled the crisis through effects like labour challenges and geopolitical uncertainties, but it has also caused a massive growth in demand for semiconductors due to higher consumer interest in electronics.
Global Impact of Chip Shortage and Hearing Aids
Another major cause behind the chip shortage is the China-United States trade war. The restrictions that the United States have imposed on SMIC (Semiconductor Manufacturing International Corporation)- China’s largest chip manufacturer, have made the semiconductor supply to the United States even more difficult. Our mission is to help customers affected by the chip shortage and hearing aids supply issues by offering quick, affordable access to the accessories they need most.
Furthermore, TSMC (Taiwan Semiconductor Manufacturing Company), which supplies over 50% of the global market, has been suffering greatly due to a major drought occurring in Taiwan. Since semiconductor production uses up a lot of water (more than 150,000 tons per day, or approximately 80 standard swimming pools), the water regulation policy imposed due to the drought has made the process harder and more expensive. TSMC has had to rely on water trucks to maintain production—another strain contributing to the chip shortage and hearing aids supply challenges being felt across industries worldwide.
Impact of the Chip Shortage and Hearing Aids Market in the US
So, what does this mean for the hearing aid accessories market in the US? Hearing equipment availability in the United States has seemed quite poor for a while. Product recalls and low hearing aid penetration were affecting the US market for hearing aid accessories negatively even before the global chip shortage. The increasing cost of hearing aid technology and the lack of skilled experts in the field have made it even more difficult for the market to grow.
Meanwhile, approximately 15% of American adults (37.5 million) aged 18 and over report difficulty hearing, and one in eight people in the US (about 30 million in total) aged 12 years or older has hearing loss in both ears. Furthermore, public awareness regarding the deafness spectrum is on the rise—for example, the World Health Organization (WHO) commemorates World Hearing Day on March 3rd to promote better understanding of hearing loss. This growing awareness has increased interest in hearing aids and, as a result, hearing aid accessories—further highlighting the impact of the chip shortage and hearing aids supply issues on meeting this rising demand across the US.
Despite the growing demand, however, the global chip shortage and hearing aids are bound to have a further negative effect on the US market for hearing aid accessories. Industry experts predict that the crisis will continue and don’t believe that there will be any relief until 2023, or possibly even early 2024.
We at Hearing Aid Accessory have been aware of the hardships that those experiencing hearing loss are currently facing in the US due to the poor access to hearing equipment available. After noticing the amount of positive feedback from American customers explaining how hard it was to find the products we offer in the US (especially at such amazing prices), we decided to create this website to maximise accessibility of those products to our US customers and to provide them with the convenience to browse and order from an Americanised website.
Are you currently living in the US and looking to purchase affordable hearing aid accessories of amazing quality? Look no further- order today and thanks to our quick delivery, your product(s) of choice will be with you in no time! You can browse our shop and find the accessories most suitable for you here.
