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Nowadays, the population of individuals managing bone-related challenges, such as bone damage and bone deterioration, among other related issues is escalating at an alarming rate. Studies are being conducted to aim at minimizing this population as the majority of surgical procedures such as allografts and autografts come with some limitations. As a result of challenges connected with autografts and allografts, metallic materials have been commonly utilized as internal scaffolding materials, particularly as a result of their highly required mechanical attributes. However, studies have revealed that metallic-based materials have limitations such as poor adherence, creep, stress-shielding, nondegradability, metallic-ion release, and challenges of biocompatibility with host tissues. Hence, quests for biomaterials suitable as bone-replacing alternatives providing required efficient scaffolds and three-dimensional biocompatibility capable of mimicking the attributes of the extracellular matrix of specific tissues, such as mechanical assistance and bioactivity, while facilitating an enabling environment for cellular adherence, variation, and proliferation, and for other internal supports have escalated. Thus scaffolds are often utilized in tissue engineering for facilitating regeneration of bones and other damaged tissues. These scaffolds must exhibit biodegradability and biocompatibility with the biomechanical properties of the bone. Therefore this chapter elucidates recent trends in polymeric materials and nanocomposites used in bone scaffold fabrication to overcome these challenges. Future market trends are also highlighted.