Fused filament fabrication (FFF) is a popular additive manufacturing (AM) method for creating thermoplastic parts with intricate geometrical designs. Pure thermoplastic materials utilized in FFF, whose polymeric matrix is reinforced with other materials, such as carbon fibers (CFs), introduce products with advanced mechanical properties. However, since not all of these materials are biodegradable, the need for recycling and reuse immediately emerges to address the significant problem of how to dispose of their waste. The proposed study evaluates the printability, surface morphology and in vitro toxicity of two thermoplastic-based composite materials commonly used in wearable device manufacturing to provide enhanced properties and functionalities, making them suitable for various applications in the field of wearable devices. Tritan Copolyester TX1501 with 7.3% chopped CFs (cCFs) and Polyamide 12 (PA12) with 8.6%cCFs and 7.5% iron Magnetic Nanoparticles (MNPs)—Fe4O3 were used in the discrete ascending cycles of recycling, focusing on the surface quality performance optimization of the printed parts. Through stereoscopy evaluation, under-extrusion, and over-extrusion defects, as well as non-uniform material flow, are assessed in order to first investigate the influence of various process parameters’ application on the printing quality of each material and, second, to analyze the optimal value fluctuation of the printing parameters throughout the recycling cycles of the materials. The results indicate that after applying certain adjustments to the main printing parameter values, the examined recycled reinforced materials are still effectively 3D printed even after multiple cycles of recycling. A morphology examination using scanning electron microscope (SEM) revealed surface alterations, while a cytotoxicity assessment revealed the adverse effects of both materials in the form of cell viability and the release of proinflammatory cytokines in the cell culture medium.