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Chitin is a major structural polysaccharide after cellulose and exists as the most abundant polymer in nature. Chitin is a nitrogen-containing homopolymer of β-(1,4) linked NAcetylglucosamine. It is a key cell wall component of fungi, also found in a wide range of organisms, including viruses, plants, animals, insect exoskeletons, and crustacean shells. This review focused on the recent developments of applications of chitin, chitinases, and chitin derivatives in biomedicinal, agricultural and environmental perspectives for sustainable development. Chitinases are hydrolytic enzymes responsible for the degradation of chitin and are used in biocontrol against various fungal pathogens and insects to reduce the uses of synthetic fungicides and insecticides. These can serve as sustainable and eco-friendly alternatives to pesticides. Chitinases producing microorganisms are a potential alternative to these chemicals which are present in the soil as a part of the ecosystem. Chitin derivatives and chitinases have significant pharmacological values and are effective as an anti-inflammatory drug, ulcerative colitis, anticancer and gastrointestinal disorders. The significant medical roles of chitinases have also been observed to amplifying the functioning of antifungal drugs during the treatment of fungal diseases. These enzymes can be used for strengthened the human immune system and also employed antifungal creams and lotions as rightly expected. Chitin derivatives have a number of applications in the making of artificial medical articles, including contact lenses, artificial skin, and surgical stitches. These derivatives have been extensively used in making artificial medical products because of its non-toxic, non-allergic, biocompatible, and biodegradable properties. Chitin and its derivatives used for environmental applications comprise bioremediation of organic and inorganic contaminants from soil and water along with biological conversions of chitinous waste to the singlecell proteins, bioethanol, and biofertilizers as well.