This review presents a comprehensive analysis of nanobiosensors (NBSs) advancements for COVID-19 detection, highlighting their repurposing potential to enhance global health security against emerging threats. It outlines the use of various nanomaterials like gold and magnetic nanoparticles in developing NBSs for detecting SARS-CoV-2, emphasizing their adaptability and rapid detection capabilities. Gold nanoparticles are highlighted for their superior surface chemistries and stability, making them ideal for label-free COVID-19 detection and other diagnostic applications. Magnetic nanoparticles, particularly superparamagnetic iron oxides, offer alternative detection mechanisms based on magnetism, providing high sensitivity and reliability in pathogen detection. The document also discusses nonmetallic nanomaterials, such as single-walled carbon nanotubes and selenium nanoparticles, which have been used to develop optical and electrochemical NBSs for COVID-19 detection. Breathalyzers are recognized for their noninvasive, rapid detection of volatile organic compounds specific to COVID-19. Such advancements in NBSs have significantly contributed to global health security by providing reliable, portable, and affordable diagnostic solutions, especially in resource-limited settings. However, despite technological advancements, commercialization and market adoption challenges persist, necessitating improvements in manufacturing scalability, cost reduction, and clinical validation. The document emphasizes the need for transparent and efficient regulatory strategies to address concerns related to nanomaterial toxicity, health effects, and environmental impact during the R&D phase. While presenting a comprehensive framework for successful research to market translation, this review highlights the need for cross-sectoral collaboration to tailor country-specific nanotechnology roadmaps for optimized resource allocation, navigating diverse regulations, and addressing unique societal needs.