I wager its spec bump or no redesign. I frankly haven't kept up with rumors but that's my prediction. It would be great if there was glucose monitoring but how will they pull it off though. I don't it will be instant like a heart rate monitor, I wonder if it may look like what they do with the skin temp. And you will get feedback like, your glucose is elevated in the past / number of hours/days based on prior historical data. I have no need for it for my health but it would be interesting information.
your 1st sentence is a bit confusing, my guess is a new SOC and no case re-design ...
as for blood glucose, my guess will be trends, Apple is not in the biz of creating medical devices, look what a company like Dexcom has to go through to get the CGM device to market, I highly doubt Apple would expose an AW to that rigor.
Similar to blood pressure, Samsung offered it in one of their watches like 3 years ago, needed monthly calibration and some of the reviews I've read it was inaccurate, and then it got pulled a year later.
And as for wrist temperature, you can actually see the absolute values in the Health app on the phone, under "Show all data".
Technology-wise, we'll get there, eventually, implementation in an AW, far far out because of the FDA rigor, first in the US and then every country in the world.
My "fear" is is that this go-around of AWs and the OS will focus on "Siri AI" and personally I have no use for that.
I'll be watching the Sep event closely, I'd like a U4 ...