A speaking valve includes a hollow body configured to be secured to a connector of a tracheostomy system disposed in a patient. The speaking valve further includes a cap that houses a valve member, which enables the speaking valve to act as a one-way check valve. The valve member, hollow body, or other components of the valve may include a material that undergoes a chemical changed when exposed to moisture, i.e., a hydrosensitive material. Particularly, the hydrosensitive material may exhibit a color change when exposed to moisture. As such, the hydrosensitive material may be useful in providing a visual indication of the saturation and/or moisture level of the speaking valve.