One of the biggest challenges in the current scenario is to find the balance between meeting market demands and ensuring environmental, social and economic sustainability, especially regarding fundamental goods and services for maintaining and improving quality of life, such as orthopedic implants. At the same time, the way the industry transforms market demands into goods and services has also changed. Today, the advanced manufacturing characterized by an environment saturated with computational information, highly connected to the Internet and full of new technologies is part of a new industrial revolution: the Industry 4.0 (I4.0). The innovations of I4.0 can present themselves as important opportunities to contribute to the sustainability needed to meet the next generation demands. Therefore, the objective of this work is to create an analysis model to assess the contribution of I4.0 to a more sustainable production throughout the product life cycle. Working toward this direction, this study sought to consolidate the concepts of sustainability and industry 4.0 applied to production management, identifying, through a systematic literature review, possibilities of existing correlations. Based on these research findings, a framework for integrating and assessing the life cycle in the environmental, economic and social dimensions was proposed. The framework was applied through a case study conducted in a company in the orthopedic implant manufacturing segment, comparing the traditional production chain against the simulation of a route using I4.0 technologies, such as additive manufacturing. The analysis of the mapped indicators showed significant gains such as the reduction of consumption of raw materials by 14%, and electricity consumption and CO2 emissions by 28%, but evidenced the high cost of equipment and supplies, and the risk of reducing jobs. The identified impacts were related to the Sustainable Development Goals and, finally, additional applications were suggested and directions for new studies in the area were pointed out.