The latest advances in nanotechnology have resulted in the development of a targeted drug delivery system. However, in order to efficiently target a molecule to a specific place with a drug delivery system, a specialized drug delivery system is required. The discovery of nanosponge has been a big step toward overcoming challenges such as drug toxicity, low bioavailability, and predictable drug release because they can accept both hydrophilic and hydrophobic drugs. Nanosponges, a newly developed colloidal system, have the potential to address concerns such as medicine toxicity, lower bioavailability, and drug release over a large region because they can be adjusted to operate with both hydrophilic and hydrophobic pharmaceuticals. Nanosponges are small structures with a three-dimensional network and porous hollow. Nanosponges are small structures with a three-dimensional network and porous hollow. They can be easily created by crosslinking cyclodextrins with various chemicals. Because of Cyclodextrin's excellent biocompatibility, stability, and safety, a number of Cyclodextrin-based drug delivery systems have been rapidly developed. The nanosponge drug delivery system has a wide range of applications, including cancer, autoimmune illnesses, theranostic uses, increased bioavailability, and stability. This review delves into the benefits and downsides, preparation procedures, factors influencing their preparation, characterisation techniques, applications, and the most recent advancements in nanosponges. Nanosponges can also act as an efficient carrier of enzymes, proteins, vaccines, and antibodies. The current review focuses on the method of preparation, characterisation, and possible application in drug delivery systems.
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