This paper analyzes the effect and optimization of fused deposition modeling process parameters on the build time and compressive strength of printed bone screws. The improved polylactic acid (PLA+) bone screws were designed and printed following the ASTM F543 standard. The Taguchi method was employed to examine the effects of six process parameters, namely layer height, wall thickness, infill density, nozzle temperature, bed temperature, and printing speed, on both build time and compressive strength. The effect of each parameter on outputs and optimal values for the minimum build time and maximum compressive strength were determined. The findings indicated that layer height, infill density, and printing speed significantly influence the build time. Additionally, infill density and wall thickness significantly affected the compressive strength. The optimum process parameter settings were determined to minimize the build time and maximize the compressive strength. To reduce build time, the optimal process parameter settings were a layer height of 0.14 mm, a wall thickness of 0.6 mm, an infill density of 20%, a nozzle temperature of 195 °C, a bed temperature of 55 °C, and a printing speed of 60 m/s. On the other hand, the optimal process parameter settings for maximizing compressive strength were a layer height of 0.1 mm, a wall thickness of 0.6 mm, an infill density of 100%, a nozzle temperature of 200 °C, a bed temperature of 50 °C, and a printing speed of 30 m/s.