Researchers outlined strategies to harness extracellular vesicles (EVs) as nonviral carriers for gene and protein delivery, positioning EVs as an alternative to traditional viral vectors that can provoke immune responses. The review highlights engineering approaches to increase cargo loading, targeting specificity, and circulation stability. EV-based delivery could reduce insertional mutagenesis and immune activation associated with some viral platforms, improving safety for repeated dosing or vulnerable patient populations. Technical hurdles include scalable production, purification, potency assays, and robust cargo loading for large nucleic acids. Regulators will demand validated characterization and consistent manufacturing for EV therapeutics. If those barriers are addressed, EVs could become a platform for precision delivery in gene editing, protein replacement, and RNA therapeutics.