Google recently launched what they call "the smart contact lens", which measures glucose levels in tears. They mentioned that it uses a "tiny" wireless chip and a "miniaturised" glucose sensor embedded between two layers of lens material.

The firm said it is also working on integrating tiny LED lights that could light up to indicate that glucose levels have crossed certain thresholds.

This makes room for more to invest in as many global firms have been looking to expand in the wearable technology sector, seen by many as a key growth area in the coming years.