This review focuses on ferrites, which are gaining popularity with their unique properties like high electrical resistivity, thermal stability, and chemical stability, making them suitable for versatile applications both in industry and in biomedicine. This review is highly indicative of the importance of synthesis technique in order to control ferrite properties and, consequently, their specific applications. While synthesizing the materials with consideration of certain properties that help in certain methods of preparation using polyol route, green synthesis, sol-gel combustion, or other wise to tailor make certain properties shown by ferrites, this study also covers biomedical applications of ferrites, including magnetic resonance imaging (MRI), drug delivery systems, cancer hyperthermia therapy, and antimicrobial agents. This was able to inhibit the growth of all tested Gram-negative and positive bacteria as compared with pure ferrite nanoparticles without Co, Mn or Zn doping. In addition, ferrites possess the ability to be used in environmental remediation; such as treatment of wastewater which makes them useful for high-surface-area and adsorption capacity due heavy metals and organic pollutants. A critical analysis of functionalization strategies and possible applications are presented in this work to emphasize the capability of nanoferrites as an aid for the advancement both biomedical technology and environmental sustainability due to their versatile properties combined with a simple, cost effective synthetic methodology.

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