Drowning is among the most common reasons for children’s death aged one to fourteen around the globe, ranking as the third leading cause of unintentional injury death. With rising populations and the growing popularity of swimming pools in hotels and villas, the incidence of drowning has accelerated. Accordingly, the development of systems for detecting and preventing drowning has become increasingly critical to provide safe swimming settings. In this paper, we propose a comprehensive review of recent existing advancements in automated drowning detection and prevention systems. The existing approaches can be broadly categorized according to their objectives into two main groups: detection-based systems, which alert lifeguards or parents to perform manual rescues, and detection and rescue-based systems, which integrate detection with automatic rescue mechanisms. Automatic drowning detection approaches could be further categorized into computer vision-based approaches, where camera-captured images are analyzed by machine learning algorithms to detect instances of drowning, and sensing-based approaches, where sensing instruments are attached to swimmers to monitor their physical parameters. We explore the advantages and limitations of each approach. Additionally, we highlight technical challenges and unresolved issues related to this domain, such as data imbalance, accuracy, privacy concerns, and integration with rescue systems. We also identify future research opportunities, emphasizing the need for more advanced AI models, uniform datasets, and better integration of detection with autonomous rescue mechanisms. This study aims to provide a critical resource for researchers and practitioners, facilitating the development of more effective systems to enhance water safety and minimize drowning incidents.