In order to translate nanotechnology into medical practice, magnetic nanoparticles (MNPs) have been presented as a class of non‐invasive nanomaterials for numerous biomedical applications. In particular, MNPs have opened a door for simultaneous diagnosis and brisk treatment of diseases in the form of theranostic agents. This review highlights the recent advances in preparation and utilization of MNPs from the synthesis and functionalization steps to the final design consideration in evading the body immune system for therapeutic and diagnostic applications with addressing the most recent examples of the literature in each section. This study provides a conceptual framework of a wide range of synthetic routes classified mainly as wet chemistry, state‐of‐the‐art microfluidic reactors, and biogenic routes, along with the most popular coating materials to stabilize resultant MNPs. Additionally, key aspects of prolonging the half‐life of MNPs via overcoming the sequential biological barriers are covered through unraveling the biophysical interactions at the bio–nano interface and giving a set of criteria to efficiently modulate MNPs' physicochemical properties. Furthermore, concepts of passive and active targeting for successful cell internalization, by respectively exploiting the unique properties of cancers and novel targeting ligands are described in detail. Finally, this study extensively covers the recent developments in magnetic drug targeting and hyperthermia as therapeutic applications of MNPs. In addition, multi‐modal imaging via fusion of magnetic resonance imaging, and also innovative magnetic particle imaging with other imaging techniques for early diagnosis of diseases are extensively provided.

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Motivated by increasingly being used magnetohydrodynamic micropumps for pumping biological and chemical specimens, this study presents a simplified magnetohydrodynamic flow model based upon steady-state, incompressible and fully developed laminar flow theory in rectangular channel to offer the characteristics of magnetohydrodynamic pumps for prediction of pumping performance in magnetohydrodynamic flow. The non-linear governing equations of motion and energy including viscous and Joule dissipation are solved numerically for velocity and temperature distributions. To aim this goal a finite difference approximation based code is developed and utilized.In addition, the effects of magnetic flux density, applied electric current and channel size on flow velocity field as well as thermal behavior are investigated in various working medium with different physical properties. The entropy generation rate is discussed also. The simulation results are in good agreement with experimental data from literature.