In this paper, we describe a conceptual product design approach based on variational 3D models, parametric optimization, and rapid prototyping for facilitating the exploration of the solution space for a design problem. We demonstrate the proposed strategy through a case study on the design of an ophthalmic instrument. A template 3D model was manually created and fed to a parametric optimization tool to automatically generate design alternatives based on a set of criteria, which were then exported for 3D printing and testing in both dry and wet lab environments. Our results show that the method facilitates parallel prototyping and enables the exploration of a wider range of solutions more quickly and efficiently, particularly in highly constrained scenarios, but it requires designers to think of the initial models as families of solutions.