In this paper we review history, types, structure and different synthesis methods for carbon nanotubes (CNTs) including arc discharge, laser ablation & chemical vapor deposition. CNTs are hollow carbon structures with one or more walls, a small diameter on the nanometer scale and a large length in comparison. Because of their remarkable electronic and mechanical properties, they are unique and exciting and offer tremendous opportunities for the development of fundamentally new material systems. These cylindrical carbon molecules have novel properties that make them potentially useful in many applications in nanotechnology. Their unique surface area, stiffness, strength and resilience have led to much excitement in the field of pharmacy.