The near future of medical nanotechnology is examined at Delaware Online: "All of biology is nano-scale. Nano means molecules; molecules are what we've studied in chemistry and molecular biology for generations ... Once we harness that ability to control molecules, the potential for medical applications are almost endless, say researchers." Early medical nanotechnology is likely to focus on diagnostics, nanostructures like the scaffolds now used in tissue engineering efforts, gene therapies and pinpoint drug delivery. Beyond that, however, the future of medical nanotechnology will rapidly become much more revolutionary. You can read more on this topic at Robert Freitas' Nanomedicine website.
Link: http://www.delawareonline.com/newsjournal/health/2004/12/14nanotechsmedica.html