Bacterial cellulose (BC) is currently one of the most popular environmentally friendly materials with unique structural and physicochemical properties for obtaining various functional materials for a wide range of applications. In this regard, the literature reporting on bacterial nanocellulose has increased exponentially in the past decade. Currently, extensive investigations aim at promoting the manufacturing of BC-based nanocomposites with other components such as nanoparticles, polymers, and biomolecules, and that will enable to develop of a wide range of materials with advanced and novel functionalities. However, the commercial production of such materials is limited by the high cost and low yield of BC, and the lack of highly efficient industrial production technologies as well. Therefore, the present review aimed at studying the current literature data in the field of highly efficient BC production for the purpose of its further usage to obtain polymer nanocomposites. The review highlights the progress in synthesizing BC-based nanocomposites and their applications in biomedical fields, such as wound healing, drug delivery, tissue engineering. Bacterial nanocellulose-based biosensors and adsorbents were introduced herein.