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biopure
Generation and Evaluation of Strategic Alternatives:
Evaluation of Market Segments and Selection of Target Markets
Biopure has observed a 100% elimination of red blood cell transfusions on the day of surgery in patients infused with Hemopure. As a result, Biopure believes that Hemopure could be infused immediately at the site of an accident, potentially extending the time that a trauma patient could be supported awaiting definitive hospital care. Hemopure also acts as an expander of blood volume, a common therapy used to stabilize trauma patients (Biopure Corporation: http://media.corporate-ir.net/media_files/NSD/BPUR/reports/bpur_032200.pdf).
Trauma cases when observed seem to be incorporating the most potential of any of the other alternatives. However, these other alternatives also need to be observed and a strategic market needs to be assessed. The alternatives that are available to Biopure’s alternative blood substitutes include acute blood loss patients, elective surgeries, emergency surgeries (heart bypass, organ transplant etc.), and Trauma patients. Though all of these alternatives could benefit from Biopure’s blood substitutes, there will only be one segment in which they will target. Previous studies indicate that hospitals see more than 500,000 trauma cases annually and approximately 20,000 trauma victims bled to death each year prior to reaching the hospital. Biopure has initiated many phase II trials that has provided some important information as to the potential in the trauma units. “This trial includes both military and civilian hospitals. In this Phase II trial, Biopure may administer Hemopure to a maximum dose of 10 units or 300 grams of hemoglobin. Biopure expects this trial to provide information useful in designing a clinical development plan for trauma” (Biopure Corporation). Opposing segments, though attaining plenty of benefits, do not seem to contain the possibilities that the trauma segment provides. Segments such as elective surgeries or emergency surgeries have the option to attain blood for transfusions from a few more sources (blood banks, donors etc.) than that of trauma units. Hemopure could be made assessable to paramedics by keeping inventory within the ambulance. This allows for emergency victims to be available for blood substitutes if the situation provides. Statistics indicate that 90% of victims are delayed on blood transfusions until hospital arrival, which in turn accounts for the 30% fatality rate. Its is an opportunity presented to Biopure that has the potential to save thousands of lives throughout the world. Once Biopure has identified and evaluated all of its alternatives positioning strategy can begin to be assessed.