No company competes in the drug-eluting stent industry like Abbott Labs (NYSE:ABT). The company's Xience stent is the leader in a crowded field of strong rivals, pulling in nearly $1.6 billion for the firm last year despite tough competition. The Xience is current-generation tech, however, and Abbott is thinking bigger. With its new Absorb stent, which features a fully dissolvable design that absorbs into the bloodstream when it's finished, Abbott is paving the way to dominate the future of the industry as well.

The company already has released the Absorb in Europe, India, and other select international markets, but Abbott is looking for more geographic growth and recently kicked off a trial to support Japanese regulatory approval. What's next for Abbott and this future star product? Motley Fool contributor Dan Carroll and health care analyst Max Macaluso discuss everything you need to know about this exciting new product below.

Fool contributor Dan Carroll has no position in any stocks mentioned. The Motley Fool recommends Johnson & Johnson. The Motley Fool owns shares of Johnson & Johnson and Medtronic. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.