This contribution aims at delivering the progress made in the past decade in the field of polymer composite materials, a.k.a. biomedical composites, which are used in the biomedical sector. The effort to gather all interesting research findings along with commercially available products and patents regarding only polymer matrix systems has yielded interesting facts on the expansion of this category of materials in the last 10 years. Advancement in polymer composite technology has made it easier nowadays for the manufacturing of custom made prostheses in the dental and orthopedics areas. The challenge still exists however, in the field of polymer composite scaffolds, where intensive research is being carried out in the biofunctional properties of many different systems, ranging from natural polymers such as silk, to biodegradable polymers and to synthetic ones. The emergence of nanotechnology and its applications has made things a little bit more complicated for researchers as now scale issues are into play, and size has proven to be another biofunctional parameter. It is generally believed that mankind will witness a revolution in medicine with the arrival of a number of bioactive polymer composite systems with custom made functionalities and properties. Of course, one has to take into account the fact that at least 10–15 years are needed for a biomaterial to establish itself in everyday medical use, after the minimum time and amount required for clinical studies.