A polymer is a natural or man-made compound composed of very big molecules known as macromolecules, which are multiples of smaller chemical units known as monomers. Polymers include many elements found in living creatures and serve as foundation for many minerals and man-made compounds. Polymers have several applications, from industry to biomedical. Biocomposite is also a class of emerging material developed using polymers as a matrix and different types of biocompatible dispersions. They exhibit novel characteristics different from their individual components. These composites have excellent biocompatibility and mimic morphology of living materials. The purpose of this chapter is to highlight the recent trends in polymer-based biocomposites and their advanced applications. Different fabrication technologies and methods have also been discussed. It is worth noting that bionanocomposite is the most astounding innovation in polymer composite applications. It is an enthralling topic of study with applications in biomedical domains such as wound healing, bone tissue engineering, 3-dimensional printing, drug carriers, and medical implants. Many emerging companies are attempting to meet these demands by developing new, dependable, and environmentally acceptable polymer composites. It is worth noting that polymer-based nanofibrous materials are employed in a variety of biological applications, including tissue engineering of bones, blood vessels, and oral tissues, as well as wound treatment. The chapter also discusses difficulties encountered in the creation of polymer composites. As a result, there is a constant focus on improving stable, efficient, and adaptable processing procedures for polymeric composites.