Nanomedicine refers to the application of nanotechnology in the field of medicine. It uses nanoscale materials like biocompatible nanoparticles and nanorobots for diagnosis, delivery, monitoring, treatment, and repair of biological systems. This technology can enable a more personalized, predictive, regenerative healthcare system. Although nanomedicine is still in its infancy, it is gaining traction in the treatment of cancer, Parkinson’s disease, Alzheimer’s, diabetes, orthopedic diseases, and various diseases related to blood, lungs, and the cardiovascular system. However, the high cost of nanoparticle-assisted medicine compared to its conventional counterparts, as well as strict regulatory issues could be impeding the growth of Nanomedicine.