The impact of this competition is already being felt. Not too much. All you need is some seed capital and a savvy entrepreneur, motivated by the prospect of making millions in an initial public offering. Some companies have patented technology, but competitors seem to be adept at circumventing that hurdle. As these types of promotions proliferate, profitability will suffer.
Biotechnology is also a competitive business.
Others are working on developing methods to clone human organs for surgery and transplants. Knowledge learned by one company will be used by others to further efforts in developing similar techniques. While competition exists, the barriers to entry are much more substantial. You won't see someone come out of nowhere and be a viable competitor the next day. It will take months or years to jump through the regulatory hurdles required to bring a competing product to market.