In light of the global climate crisis and commitments toward net-zero carbon emissions, this Perspective evaluates the current status of developments in recycling methods and bioplastics to identify long-term sustainable alternatives. The recycling and product application of major medical plastics, including poly(vinyl chloride) (PVC), polyethylene (PE), polypropylene (PP), and polystyrene (PS), are discussed, and their circular potential is evaluated. Researchers are actively investigating bioplastics to solve present concerns and curb the global increase in greenhouse gas (GHG) emissions from petroleum-based plastics. Current recycling methods for PE and PP can be scaled up, and bioversions of plastics, such as bio-PE and bio-PP, can be used as a long-term sustainable solutions to realize their circular potential. As an alternative to PVC and PS, materials with inefficient recycling methods, recent promising bioplastics such as polyurethane (PU) and poly(lactic acid) (PLA) have a competitive performance. Our Perspective recognizes the need for further research on issues such as integrated recycling processes and the possibility of commercializing bioplastics.