The nickel‐titanium (NiTi) alloy, “Nitinol”, has become a prominent name in the medical device industry amongst medical device manufacturers. The unique properties of the material, such as the shape memory effect and pseudoelasticity, have earned the material increasing popularity for new product innovations. Amongst the various manufacturing processes for metal alloys, laser micromachining has taken the lead for processing Nitinol‐based products. This literature review provides an analysis of the history and applications of Nitinol, an overview of the microstructure of the material, and a review of the current manufacturing methods for laser cutting medical‐grade Nitinol. A more in‐depth focus is placed on the realm of laser processing and the challenges associated with the manufacturing process. Ultrafast femtosecond pulse processing delivers promising results and quality for manufacturing Nitinol medical devices. However, there exists a need to investigate potential approaches to increase the cutting speed of the process to enhance throughput and stay competitive in a growing market due to the cutting speed being over 4‐times slower than long pulse cutting. Many tactics to address the problem are discussed, ranging from laser selection, processing parameters, and non‐traditional laser processing approaches.This article is protected by copyright. All rights reserved.