The goal of personalized medicine is to target the right treatments to the right patients at the right time. Patients with a variety of cancers and other complex diseases are regularly tested as part of patient care, enabling physicians to personalize patient monitoring and treatment. Among the sought-after diagnostic tools, there is an increasing interest and need for those based on a low-cost, easy, rapid, and accurate method for the detection of specific circulating biomarkers above a detection threshold. Lateral flow tests (LFTs), enhanced by nanotechnology, can fulfil these requirements, providing a significant support to personalized patient monitoring. In this review, after a short historical synopsis of membrane-based lateral flow assays, including a description of a typical configuration of a LFT strip, a careful collection is presented of the best characterized nanotechnology approaches previously reported for the enhancement of target detection performance. The attempt is to offer an overview of currently integrated nanotechnologies in LFTs, fostering the actual future development of advantageous diagnostic devices for patient monitoring.