It is well acknowledged that carbon nanotubes (CNTs) are a potential new class of nanomaterials for technological advancement. The recent discovery of diverse kinds of carbon nanostructures has sparked interest in the potential applications of these materials in a variety of disciplines. Numerous distinct carbon nanotube (CNT) production methods have been developed, and their characterisation, separation, and manipulation of individual CNTs are now possible. Structure, surface area, surface charge, size distribution, surface chemistry, aggregation state, and purity of the samples all have a significant impact on the reactivity of carbon nanotubes, as does the purity of the samples. Currently, carbon nanotubes (CNTs) are being successfully used in the medicinal, pharmaceutical, and biomedical fields because of their large surface area, which makes them capable of adsorbing or conjugating with a wide range of therapeutic and diagnostic substances (drugs, genes, vaccines, antibodies, biosensors, etc.). They were the first to demonstrate that they are a great vehicle for drug delivery straight into cells without the need for metabolic processing by the body. This paper discusses the different types, structures, and properties of CNTs, as well as CNT synthesis and purification methods, how to functionalize CNTs, and their application in medicinal, pharmaceutical, and biomedical fields, toxicological properties and their assessment, as well as in-vivo pharmacology and biodegradation pathways.