In the current context of industrial and environmental transformation, the development of sustainable products has become a key strategy to address the challenges of climate change and the depletion of natural resources. Companies are rethinking their production systems to meet growing social, regulatory, and environmental demands. Despite these efforts, the shift toward sustainable models still face significant challenges, including fragmented knowledge, lack of access to digital tools in some regions, and limited integration of interdisciplinary approaches. This article presents a narrative review aimed at synthesizing theoretical and practical advances in sustainable product development from a systemic perspective that incorporates technological, design, environmental, and social dimensions. The methodology involved a narrative literature review of recent scientific publications related to technological innovation, circular economy, and industrial sustainability. The selected content was organized into three key thematic areas: (1) technological innovation and industrial sustainability, (2) sustainable design and circular economy, and (3) environmental and social impact alongside current and future challenges. Key findings show that digital technologies such as the Internet of Things, artificial intelligence and blockchain are transforming industrial processes by improving energy efficiency, traceability, and decision-making capabilities. At the same time, sustainable design practices and the use of renewable or waste-based materials, such as natural fibber and agricultural by-products, offer viable alternatives to conventional production. Persistent barriers include resistance to change, regulatory gaps, and unequal access to innovation. The review concludes that advancing sustainable product development requires integrated, collaborative, and flexible strategies that align technological progress with social inclusion and environmental regeneration.