Over the last two decades, the drug delivery market has witnessed the advent of nanotechnology. Nanotechnology involves developing and applying chemical, physical, and biological systems characterized by structures ranging from single atoms or molecules to submicron dimensions. It also consists of the integration of resulting nanostructures into larger systems. Medical nanotechnology has shown a growing inclination toward reducing costs and improving the efficacy of existing medications, diagnostic tools, implants, prosthetics, patient monitors, and personal healthcare. The primary objective has been to develop intelligent drug delivery systems to maximize activity and minimize side effects. This review focuses on nanostructured materials, a significant category of advanced nanotechnology-based carriers. Nanostructured materials include polymeric-based and lipid-based nano systems. The review provides an overview of recent variations in this classification, particularly emphasizing cyclodextrin nanosponges. Cyclodextrins are remarkable molecules owing to their unique amphiphilic structure, they are natural oligosaccharides that hold promise in more targeted and controlled drug delivery release.