The present review article focuses exclusively on the recent global advancements in the emerging novel drug delivery field of phytosomes. The article comprehensively highlights the reported phospholipid complexes of the active phytoconstituents (18β-Glycyrrhetinic acid, Andrographolide, Baicalein, Baicalin, Berberine, Catechin, Celastrol, Curcumin, Epigallocatechin-3-O-gallate, Evodiamine, Gingerol, Gymnemic acid, Icaritin, Kaempferol, L-carnosine, Luteolin, Mitomycin-C, Piperine, Quercetin, Resveratrol, Rutin, Salicin, Silibinin or Silybin or Silymarin, Sinigrin, and Umbelliferone) and herbal extracts (Aegle marmelos, Allium cepa, Allium sativum, Bacopa monnieri, Boswellia serrata, Butea monosperma, Calendula officinalis, Centella asiatica, Citrullus colocynthis, Ginkgo biloba, Glycine max, Lawsonia inermis, Mentha pulegium, Momordica balsamina, Momordica dioica, Phyllanthus amarus, Phyllanthus emblica, Tecomella undulate, and Woodfordia fruticosa) in treatment of various ailments along with the possible enhancement of pharmacodynamics and pharmacokinetic attributes. The roles, functions, benefits, and outcomes by phospholipid complexation have been discussed in depth, keeping the future perspectives and detection of possible pit-holes and deficits. The review also exhaustively focuses on the clinical trials of several vesicular products (Casperome®, Ginkgoselect®, Greenselect®, Leucoselect®, Meriva®, Monoselect Camellia®, Norflo®, Quercevita®) and patents information (filed / granted / approved for various laboratories, institutes, companies, and industries). This article will be vital for the researchers of numerous fields who are working towards the development of novel drug delivery system for translating better therapeutic effects of herbal based components.