Main contributions of this thesis are findings on the formation of the QC phase from equilibrium phases through a peritectic reaction directly by mechanical alloying in order to eliminate the costly process of melting and rapid solidification.The QCs are further employed on the preparation and characterization of quasicrystalline-polymer composites for the use in biomedical applications.The role of the interphase between the QC particles and the polymer is discussed. Finally,the possibility of using SPS technique to process the powders into bulk form suitable for applications is investigated.