Over the past decade, there has been a significant increase in preclinical development and clinical use of approved nanomedicines. The nanomedicinal field represents a wide variety of products including early diagnostics such as in vivo imaging, medicinal devices, and innovative therapeutics. Nanomedicines exhibit unique physiochemical properties compared with their nonnanoformulated counterparts; however, clinical reports of moderate-to-severe allergic, anaphylaxis, and hypersensitivity reactions raise major concerns with regard to nanomedicine immunotoxicity. This review summarizes some of the main applications of nanomedicines, safety, and immunotoxicity implications and current testing strategies.