Hot Melt Extrusion, a production process that has been around for quite some time, has the ability to produce innovative compounds not previously achievable with conventional methods. However, many variables need to be considered prior to production. The use of small-scale extruders and 3D printers provides compounders a pathway for developing new dosage forms at a minimal cost while initial research is being completed. This article discusses the uses of Hot Melt Extrusion, the equipment used, the current and future applications, and the challenges with the technology.