With emerging technological advances in biomedicine, the scope of futuristic biomaterials has been limited and existing polymers are gaining momentum. Unlike other synthetic polymers, polyvinyl pyrrolidone (PVP) is bioactive, water-soluble, non-toxic, temperature-resistant, pH-stable, biodegradable, and biocompatible. Due to its versatile properties, PVP is explored and widely used in the fabrication of wide biomedical products via electrospinning, 3D/4D printing, and other technologies. PVP owes intrinsic biological and tunable properties with next-generation biomaterials as nanoscaffolds delivering wide therapeutics, supporting material in implants, as a bone spacer, in tissue regeneration, wound healing materials, in diagnostics and many more. Several modifications of PVP are reported to achieve the additional criteria for special functions and additive with other clinically approved polymers to obtain new biomedical products. This article is a literature review on the PVP use in designing multidisciplinary biomedical products via advanced approaches. The review details key research aspects and promising potentials of PVP based nanoscaffolds utilized in several biomedical implants (orthopedic, dental, vaginal, breast), regenerative engineering (neural, cardiac, and pancreatic tissue), ophthalmic, wound healing materials, theranostics and miscellaneous. A special focus on novel PVP biomedical products by emerging, sustainable, cost-effective 3D and 4D printing are highlighted. From a biomedical scientist's viewpoint, this review presents, the current challenges, outlook, and future prospective of PVP in designing bioresorbable devices.