Coaxial electrospinning has been developed to produce sophisticated polymer fibers with distinct characteristics and functionalities. This work investigates the use of coaxial electrospinning in the fabrication of polytetrafluoroethylene (PTFE) and polyethylene oxide (PEO) fibers to develop Nano reinforced homogenously embedded materials. These fibers' core-shell structure utilizes the combined property of PTFE's high chemical resistance and thermal stability with PEO's biocompatibility. Adding iron oxide nanoparticles improves the fiber's functionality by providing magnetic responsiveness and controlled release. The work further studies the production of coaxially electrospun PTFE-PEO fibers, the characterization techniques used to assess their properties, and performs a probabilistic perspective on applications in various disciplines. Biomedical applications such as drug delivery systems, tissue engineering scaffolds, and magnetic hyperthermia are among them, as are electronic and energy applications like flexible electronics and filtration membranes. This can be further explored towards the potential of coaxially electrospun PTFE-PEO fibers containing iron oxide nanoparticles for advanced polymer fiber applications, as well as their attractive future research and development possibilities.