Business and economics of diabetes.

Good science decisions are necessary to develop diabetes technology, but good business decisions are also necessary for this process to succeed. In order for the field of diabetes technology to advance and in order for products containing novel technologies to be developed and utilized, these products will need to survive economically. After a product is conceived the company must accomplish a demanding set of tasks, including creating a business plan, securing intellectual property rights, obtaining funding, selecting management, hiring staff, and developing an infrastructure. Every one of these specific tasks necessary to develop and market a new technology must be accomplished if the product is to evolve from a concept to an actual product that will be used to help people with diabetes.