Nanotechnology (NT) refers to the generation and application of nanoparticles (NPs). Research in NT has been ongoing for several decades and has resulted in a wide range of materials at the nano-scale. Globally, NPs serve various domestic, pharmaceuticals, aviation, textiles, and other industrial purposes. These particles are currently used in kitchen utensils, medical applications, energy-related research, aircraft, etc. The future of our planet depends on NT. Numerous molecular indicators of genetic and autoimmune diseases, malignant tumors, and a wide range of other disorders can currently be diagnosed using NPs. Drug delivery to specific tissues and organs with controlled drug release and accumulation parameters is achieved through NPs. In addition, NPs have been used as active components in some cases. For example, photodynamic therapy's incorporation and heating are photosensitizers and hyper-thermic tumor killing through NPs. Despite numerous beneficiary use and economic success of NPs, their toxic effects on terrestrial and aquatic ecosystems have also gained attention. Excessive exposure to NPs in sectors, such as agriculture, industry, etc. has generated negative health effects in humans. The review highlights about NPs in great detail. The paper discusses their sources, usage, toxicity and health effects, transportation, analysis, and treatment. It represents a summary of recent research developments and achievements in the field of NT and substantial gap areas that need to be addressed.