The concept of therapeutic and diagnostic activities is mainly concerned to medical and pharmaceutical sciences. However, the recent trends earmarked the synergistic approaches of science and technology to provide more vibrant and effective medical treatment for the solution of health complications in medical sciences and it's the genesis of modern medical diagnostic. Hence, medical research is directed towards most promising and challenging fields of therapeutics + diagnostics = theranostics. The feasibility of theranostics nowadays is apprehended in various disease diagnostics and curing processes. The modern medical diagnostic techniques are based on molecular imaging where each technique has its own characteristics, merits and demerits and most of the imaging modalities are complementary to each other. To provide better results of imaging the theranostic agents play very important role. The useful biopolymer research has been assisted towards the evolution of improved imaging agents in the form of quantum dots, nanoparticles and other new regenerative medication. The mini review focuses on theranostic development with special emphasis on quantum dots, and nanoparticles in the light of biopolymer, chitosan for cancer diseases.