This review paper is focused on the applications of polymeric blends in the biomedical field, with a particular emphasis on their use in wound healing and bone repair. The requirements for suitable materials in these areas arise from the complex mechanisms underlying the regeneration processes. Wound healing is characterized by four distinct phases: hemostasis, inflammation, cell proliferation, and remodeling. Similarly, bone healing also includes inflammation, cell proliferation, and remodeling stages. Natural polymers are often favored for biomaterial fabrication due to their biocompatibility, whereas synthetic polymers are selected because of their superior mechanical properties and easy fabrication of different shapes. Natural polymers play a critical role in all phases of wound healing, owing to their advantageous characteristics. Polymeric blends have the potential to integrate beneficial attributes of both natural and synthetic polymers, thereby enhancing the efficacy of wound healing and bone repair processes. The blending of polymers can lead to improved properties, particularly mechanical strength, while mitigating the limitations associated with individual polymers. A review of the scientific literature indicates a growing trend in research on polymer and biopolymer blends for potential applications across biomedical domains, specifically in areas related to wound healing, bone repair, and healthcare technology.