This review addressed the recent advances in CNT researches for many pharmaceutical applications. The attractive properties of CNT have paved the way for the construction of a wide range of biosensors and energy storage devices, exhibiting attractive analytical behaviors and semiconducting industry, respectively. The review discussed the potential toxicity of CNT on various human and animal cells, including blood proteins like binding with hemoglobin. Till date, no result was reported on chronic toxicity of CNT. If no or minimal toxicity would be proven with human cells and tissues in future, CNTs could be utilized for neurodegenerative disease like Alzheimer’s and Parkinson’s diseases using its BBB transpermeability.