Cyanobacteria possess secondary metabolites that can be used in the field of medicine through biotechnological applications. Recently, these microorganisms have gained more interest from scientists due to the production of bioactive compounds with applications in commercial and medical domains. Also, Cyanobacteria are a distinct class of oxygenic photosynthetic bacteria that live in a variety of settings around the globe. Many bioactive molecules derived from cyanobacteria exhibit a broad spectrum of activities, including antimicrobial, antibacterial, antiviral, antiinflammatory, antitumor, antimalarial, immunosuppressive, and anti-HIV (Human Immunodeficiency Virus) activities as well as protease inhibition, demonstrating their potential as a good source of new therapeutic lead compounds over the past two decades. Cyanobacteria are advantageous as a microbial source for drug development since they are easier to culture than other microorganisms and need only basic inorganic ingredients for growth. So, it appears that there is room for greater use of cyanobacteria in the drug development process. In addition, because of the wide variety of microbes present, cyanobacterial secondary metabolites may be a rich source of novel substances that can be used to create novel medications. However, a variety of problems with how the cyanophycean species are handled have made it difficult to exploit these species. Now that the majority of these issues have been handled, cyanobacteria may be able to increase the range of natural products derived from microbes. In contrast to other microbial sources of natural products, cyanobacteria have historically received less attention. This, combined with the enormous chemical diversity and biological activities of their products, has made them appealing sources of novel drugs for use in a variety of therapeutic fields. As a result, cyanobacterial strains from still uncharted and harsh habitats can make for excellent candidates in interdisciplinary research on the medicinal potential of cyanobacteria.