The medical device industry has been touting the potential advantages of bioresorbable stents for what feels likes ages. But the novel technology hasn’t yet made it over the hump to gain approval in the United States. That could soon change, however.

In April, Abbott Laboratories completed enrollment of three clinical trials to support approval of its Absorb bioresorbable scaffold in the United States, Japan, and China. The product received CE Mark in 2011 and is already available in more than 60 countries worldwide. Competitor Elixir Medical Corp. hit a major milestone this year as well when it obtained CE Mark for its DESolve 100 Novolimus-eluting coronary scaffold in May.

“Reimbursement is likely to improve adoption in the next few years,” says Sowmya Rajagopalan, advanced medical technologies research manager with Frost & Sullivan, adding that could push the global market for bioresorbable stents over $1 billion by 2020.