Carbon nanotubes are one of the most important fields in nanotechnology. Carbon nanotubes are cylindrical in shape with unique characteristics which makes them used in nanotechnology applications. Their various properties like surface area, strength, and stiffness which have led them excitement in pharmacy field. CNTs are classified into two type’s i. e. single walled nanotubes and multiple walled nanotubes. For the preparation of CNTs there are various methods like arc discharge method, laser ablation method, and chemical deposition method. These nanotubes are used in diagnostic as well as medicine delivery system. It is important to be aware of the toxicities of carbon nanotubes due to their wide range of uses in medication administration and to learn how to deal with any issues resulting from toxicities. The biodegradation mechanism of carbon nanotubes has recently been the subject of numerous studies. The delivery of drugs using single and multiple walled carbon nanotubes has to be a safer and more efficient option.