Despite the noteworthy exertions aimed at the synthesis of numerous novel new polymers, the performance properties of such polymers when utilized in real-life applications can be well-thought-out to be average in many instances; thereby limiting their use in challenging areas of material science and engineering such as biomedical niche. The preparation of graphene along with the assessment of its excellent properties including excellent mechanical properties, extraordinary thermal conductivity, along with high electronic transport, have drawn the attention of industrial and academic researchers and consequently unwrapped a good outlook for the inclusion of graphene as a nano reinforcing fillers nanomaterial in polymer matrices to formulate multifunctional nanocomposites for advance application. The all-embracing research studies along with application on graphene and its polymer matrix-based composites targeted at applications in the biomedical field is the aim of this chapter. A summary of the polymer matrices utilized and the fabrication methods for graphene composites is also reported. To end with, the applications of graphene-polymer-based composites in the biomedical field such as wound healing, drug delivery, and sensors, etc. are conversed.