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Undoubtedly the last third and even more so, the concluding decade of the previous century was a period during which the emergence and later on the broad application of Molecular Biology, revolutionized the field of Diagnostics. However the application of this type of technology despite its obvious success has also revealed some weak points. Nanotechnology seems to provide a very promising alternative that bypasses these weaknesses and perhaps supports the prospective for a new generation of diagnostic tests that will be easier to apply and hopefully equally efficient. The relevant evidences are elaborated in this article towards concluding whether we are facing the 21st century diagnostic revolution.