Capacitive micromachined ultrasonic transducer (CMUT) technology has enjoyed rapid development in the last decade. Advancements both in fabrication and integration, coupled with improved modelling, has enabled CMUTs to make their way into mainstream ultrasound imaging systems and find commercial success. In this review paper, we touch upon recent advancements in CMUT technology at all levels of abstraction; modeling, fabrication, integration, and applications. Regarding applications, we discuss future trends for CMUTs and their impact within the broad field of biomedical imaging.