Emerging diseases, mechanized way of living, critically polluted realms of earth, changing climatic regimens are the new challenges that mankind is encountering. To sustain and promote the health of humankind, new tools and technology is being developed in the cartel to blow away the nontraditional threats as well as the diversifying nature of known diseases. The branch of nanotechnology dealing with diagnosis, treatment, vaccination or preventive measures to improve health are referred to as ‘Nanomedicine’. Precisely, nanomedicine may be defined as the development of engineered nanoscale (1-100 nm) structures and devices for better diagnostics and medical intervention in curing or replacing damaged tissues [1]. In 2003, NIH roadmap’s nanomedicine initiatives envisioned that the cutting edge area of research will begin yielding medical benefits within as early as 10 years. It is very clearly evident now that how quickly this particular field has occupied the worldwide research arena amassing a huge percentage of total research budgets of many developed countries and its total impact on the development of other discipline is burgeoning. It is becoming an industry in itself which can be understood from the fact that there are more than 200 companies active in this field of which 59 are start-ups and small and medium enterprises that focus on the development of nanotechnology-enhanced pharmaceuticals and medical devices. There are more than 40 major pharmaceutical companies and medical devices corporations that employ nanotechnology to develop nanomedicine products and run development projects in this field [2]. Nanotechnology market is expected to be exceeding 30 billion dollars by 2015 according to a research by Global industry analyst, a U.S. based world leader in business intelligence and strategy support. The aim of nanomedicine can be elaborated as to carry out the comprehensive monitoring, repairing and improvement of all human biological systems after understanding the etiology at the molecular level using nanoengineered devices and nanostructures to achieve an overall medical fitness.