Among
luminescent nanostructures actively investigated
in the last
couple of decades, rare earth (RE3+) doped nanoparticles
(RENPs) are some of the most reported family of materials. The development
of RENPs in the biomedical framework is quickly making its transition
to the ∼800 nm excitation pathway, beneficial for both in vitro and in vivo applications to eliminate
heating and facilitate higher penetration in tissues. Therefore, reports
and investigations on RENPs containing the neodymium ion (Nd3+) greatly increased in number as the focus on ∼800 nm radiation
absorbing Nd3+ ion gained traction. In this review, we
cover the basics behind the RE3+ luminescence, the most
successful Nd3+-RENP architectures, and highlight application
areas. Nd3+-RENPs, particularly Nd3+-sensitized
RENPs, have been scrutinized by considering the division between their
upconversion and downshifting emissions. Aside from their distinctive
optical properties, significant attention is paid to the diverse applications
of Nd3+-RENPs, notwithstanding the pitfalls that are still
to be addressed. Overall, we aim to provide a comprehensive overview
on Nd3+-RENPs, discussing their developmental and applicative
successes as well as challenges. We also assess future research pathways
and foreseeable obstacles ahead, in a field, which we believe will
continue witnessing an effervescent progress in the years to come.