Nature is blessed with self-healing properties. Mimicking nature is a traditional practice to innovate new classes of materials for researchers. In this practice, researchers made a revolutionary approach to innovate self-healing polymer (SHP) that can be used to treat damage-related losses. Different SHPs with various properties have been developed for a wide range of applications. SHPs unlocked the key to the taste of real life through their application and versatility in the sectors close to our day-by-day life of this age and the near future. In this study, we reviewed the scopes and prospects of the application of SHPs owing to different properties. Varieties of amazing properties made SHPs fit in different sectors such as construction, paint and coat, electronics, healthcare, textile, and automotive and aerospace. Similarly, due to having suitable functionality, SHPs can also be used in different industries. Therefore, it is high time to generalize the production of SHPs by suitable research and make sure the easy application for the welfare of human civilization and other living creatures.