Magnetic micro and nano sensors can be used in a broad variety of applications, e.g., for navigation, automotives, smartphones and also for health monitoring. Based on physical effects such as the well-known magnetic induction, the Hall effect, tunnel magnetoresistance and giant magnetoresistance, they can be used to measure positions, flow, pressure and other physical properties. In biomedicine and healthcare, these miniaturized sensors can be either integrated into garments and other wearables, be directed through the body by passive capsules or active micro-robots or be implanted, which usually necessitates bio-functionalization and avoiding cell-toxic materials. This review describes the physical effects that can be applied in these sensors and discusses the most recent micro and nano sensors developed for healthcare applications.