I’ve often thought this about research, and first-in-class product development.
There are a lot of frogs to be kissed… but eventually one of them will come good.
So all power to the elbows of the smart cookies who are trying to generate the interesting ideas then turn those into viable concepts, and then the trickiest of all phases (when a lot of the money has been spent) getting from there to an actual working and saleable product.
The money, resources, time required to get a product like this off the lab bench, through trials and reg hurdles and into the supply chain ....
Look at the Freestyle Libre.
Dev started by Therasense, a wildly successful BG monitor start-up (zero to USD $210M revenue in 5 years!) sometime before 2000, spending ~$20M a year on R&D, leading to FDA pre-market approval application in 2003 for the "Freestyle Navigator", the ancestor to the Libre. Abbott bought Therasense in 2004 for USD $1.2B and spent years & large $$$ productising the Libre, launched in 2016.
Hundreds of millions of $$$, 16+ years of some of the smartest medtech people in the world.
It's obviously not just a matter of kissing enough technology frogs, and things like this don't get to the medical device market without a big company-style development, regulatory and market effort.
A major potential issue for the economics is that these non-intrusive plays generally don't have a consumable. It can be hard to make medical device economics work without a recurrent consumable revenue stream (like test strips or sensors).
Eg: the Libre did $3.7B revenue for Abbott in 2021 with an annual growth rate of 40%+. That's driven largely by sensor sales, of course, and I suppose the total CGM market must be well over $7B annually, growing fast.
By contrast, the entire global consumable-less BP monitor market is worth about $1.5B per annum, with modest growth.
It's obviously not apples-vs-apples, but if the NI BG monitor opportunity looks more like BP monitors than CGM, it might be difficult to make the economics work if a Freestyle Libre-scale pre-market investment is required ....