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Novel methods of synthesis and surface functionalization of nanomaterials have generated considerable research interest in recent years. Nanotechnology has shown tremendous application in biomedical engineering ranging from drug delivery, imaging, implants, diagnosis, therapy, enzyme mimetics and tissue engineering. This chapter discusses the recent developments in synthesis and biological applications of nanotechnology with special emphasis on methods of synthesis of carbon nanotubes, quantum dots, and gold, iron oxide, and silica nanoparticles. Novel research approaches towards development of efficient nanomedicines, toxicity and other challenges to clinical success are also highlighted.

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