In almost all animals, there is an endogenous protein called the ferritin nanocage. The hollow spherical structure's capacity to naturally store iron ions has been used in a variety of bio-therapeutic research projects. The nanosized ferritin particles show controlled/sustained release pharmacokinetics and have outstanding biosafety characteristics. Additionally, the huge surface-to-volume ratio and the behaviour of the 24 monomer subunits breaking down and reassembling into a sphere allow for a variety of chemical and genetic alterations on the ferritin surface and inner cage. Here, we offer a critical analysis of ferritin and its uses. We offer an (i) overview of the use of ferritin in imaging and diagnosis for biomedical reasons, (ii) explore ferritin-based vaccinations, and (iii) examine ferritin-based agents now in clinical trials. We also introduce the application of ferritin in drug delivery. Ferritin is a versatile protein scaffold that exhibits enormous potential for drug development across a variety of categories, despite the fact that no pharmaceuticals based on it are currently approved, and ferritin-based medications have just recently begun phase I clinical trials. Researchers looking into ferritin and other protein-based biotherapeutics can profit and be interested right away from this rich shortlist of recent advancements.