Stratasys (SSYS) stock soared 5.01% on Tuesday, likely driven by two key positive developments that could fuel the 3D printing company's growth in the promising medical device market.

First, Stratasys announced that its manufacturing facility in Tucson, Arizona has achieved ISO 13485 certification, a globally recognized quality standard for medical device manufacturing. This certification formally recognizes the safety, precision and reliability of Stratasys' 3D-printed components, opening up opportunities for medical device makers to reliably scale production and accelerate innovation while reducing costs and improving patient outcomes.

Second, Stratasys secured a $120 million equity investment from Fortissimo Capital, providing a financial boost to support its growth initiatives. The influx of capital could enable Stratasys to further expand its capabilities in the medical device market, capitalizing on the growing demand for 3D-printed, patient-specific components that traditional manufacturing methods cannot produce.