Nanoparticles are being used tremendously in biomedical sciences due to their promising chemical and physical properties. Magnetic nanoparticles and quantum dot nanocrystals are two of the main nanoparticle types used in the biomedical industry. The surface of these nanoparticles is further modified in order to obtain biocompatibility and surface functionalization. Magnetic properties, fluorescence, nanometer size, and availability of sites to modify its surface for bioconjugation provide greater potential to use these nanoparticles in targeted drug delivery technique and diagnostics. As a result, these nanoparticles create massive developments in the industrial operations. In this chapter, an overview of the nanoparticles used in drug delivery and diagnostic systems will be discussed. In addition, advantages in encapsulation of magnetic and quantum dot nanoparticles for bioconjugation and different methods of drug delivery will be addressed.
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