Carbon is unique in its own ways, the most special attribute of carbon is that it can make rings and long chain; even life on the earth is possible due to this property of carbon. Graphene is the first two dimensional material and it has many outstanding properties which have resulted in many exciting applications. Graphene is claimed to be so versatile that it will be able to replace present day materials. It is thought to be the perfect two-dimensional carbon crystal as it is the unique blend of properties both mechanical and electronics. Graphene is the thinnest, highly elastic, am bipolar, chemically inert, and hydrophobic, possesses record electron conductivity, high value of mobility, high thermal conductivity, high opacity, low resistivity and shows fractional quantum Hall effect and ballistic conduction and many other interesting properties that are yet be explored. Recently it has been found that the magnetic field of grapheme can be switched on and off. In this paper, I have done a comparative study of properties of grapheme and tried to produce an application of grapheme in two fields which affect us most, that are, Medicine and Electronics.