I think the only ones that have any legitimate worry would be the hearing aid corporations. I'm honestly worried about any attempts they might make to impede the progress of FX-322 or regenerative medicine in general. If these drugs are priced at or better than the cost of hearing aids, then hearing aids are going to be almost entirely obsolete.
I honestly don't see the long-term threat from hearing aid companies for regenerative medicine.
Let's take a look at the current supply side of the market:
There appear to be two types of
established players in the space: large electronics manufacturers that have a hearing aid division (Siemens, etc) among other electronics divisions and manufacturers of generally only hearing aids (Widex, Oticon, etc). Their client is the audiologist, not the patient.
There are also new entrants challenging the established players with a low-cost product: the over-the-counter "hearables "makers like Nuheara and Bose. Their target is the patient, they cut out the audiologist "middle-man."
Regenerative therapies will obviously create a second challenge front for the established players. If hearing is improved, either patients won't need expensive hearing aides at all, or may be able to move to an over-the-counter alternative.
Here's why I don't see any predatory actions from the established players:
1. The major manufacturers with a hearing aid division won't divert the resources to slow down / dissuade the adoption of regenerative medicine. It's not worth the investment to save a small division of their bottom line. They'll more likely sell the division or scrap it.
2. The hearing aid only manufacturers simply don't have the resources to individually affect the adoption of regenerative medicine by patients, or to affect regulatory decision-making. They may be able to pool collective resources, but that would eventually drive up their product costs making regenerative medicine look more appealing in the long-term.
3. Hearable makers have considerable resources to come in cheaper than regenerative therapies, and continue to take business away from the established players. So, the established players probably don't have the resources to devote to dealing with the over-the-counter problem AND regenerative front effectively. It already seems like hearables are catching up quickly.
4. Insurance, Regulatory, or Governmental interest will put regenerative therapies into a lead-product position. If insurance or Medicare covers FX-322 injections because they're cheaper than hearing aids long-term, game over. If regulators make access to regenerative therapy cheaper in some way, game over. If governments, by way of perhaps the military, start making mass purchases in FX-322 to treat soldiers/veterans, that would be a huge loss to the hearing aid makers. These moves shut the door on hearing aid makers basically permanently. And, if I recall correctly, hearing aid makers are really winning on any of these fronts right now: Insurance doesn't cover hearing aids, new laws have made hearables easy to get, and the DoD has invested in Frequency Therapeutics to push the development of FX-322.
What will likely happen:
1. Hearing aid makers will begin to bankrupt and consolidate to drive costs down and appeal to specialized markets that don't quite benefit enough from regenerative therapy, or not at all.