Shape‐memory polymers (SMP) are materials responsive to stimuli, which will be modified to their initial form on the occurrence of an appropriate input. SMPs have been a class of impulsively valuable material in the last few decades. Because of their numerous, adaptable uses across a wide range, “wise” materials (SMPs) have attracted intense interest in the advanced material fields. Besides others, they need a substantial part of the area of the medical field. SMPs provide flexibility for promoting keyhole surgery, which offers stable strength, imposes stabilization forces, rinse therapeutic agents, and are degradable. Basic research on proposed SMP systems for medicine emphasizes biocompatibility, tolerability, disinfection, and non‐toxicity. This article mentions an overview of the latest advancements in the applications of SMP been reported. The article aims to incorporate all the possible applications of SMP, making it a versatile material that juxtaposes it with other advanced materials. The significance of SMP in the biomedical field, drug development, cardio‐vascular diseases, tissue engineering, wound dressing, surgical sutures, and many other applications has been highlighted. Another section dedicated to the antimicrobial abilities of SMP has been discussed. The last section is devoted to the conclusion and future developments in the respective area. Thus, this review focuses on many biomedicine areas and tube, medical science, and neuronic applications regarding the development and ability of SMPs to boost the quality of services in these fields.