Having an MARD (mean absolute relative difference, or in math terms, E[|g-r|/r], g is measured glucose, r is reference glucose) of below 15% is actually considered very good for glucose monitoring.
We did a study that involved modelling different levels of sensor error, and you actually start to see diminishing returns on control once your MARD passes below 10%, with 15% being a good target.
Most sensors on the market that are considered best in class (eg Dexcom G6) have guaranteed MARD below 15%, usually sitting right at 10%. Getting lower than that is very difficult for interstitial glucose, especially using the classical glucose oxidase sensing mechanism.
There are other ways to sense glucose using, for example, Raman spectroscopy, and there have been companies successful in employing these techniques (OptiScan comes to mind), but I'm not yet convinced by the capacity of spectroscopy to deliver accurate results in the presence of interference from drugs and perfusion issues.