The seismic design of structures is crucial for preventing structural collapse and safeguarding human lives. Buckling-restrained braces (BRBs) have emerged as effective seismic protection devices due to their high stiffness, strength, and exceptional energy absorption capabilities. Typically, a conventional BRB consists of a steel core surrounded by concrete-filled steel tubes, with a separation mechanism ensuring axial-only deformation of the core. However, researchers have been increasingly focusing on developing innovative BRB designs with enhanced performance, incorporating different materials and configurations. This paper presents a comprehensive analysis of the development of novel BRBs introduced in the past 15 years. A systematic review approach is adopted, and the selected articles are categorized based on the shapes, materials, and compositions of the BRB components. Although carbon steel has been widely used in numerous studies, its susceptibility to corrosion and its potential impact on the hysteretic behavior of BRBs remain unexplored. Consequently, future research prospects are identified, highlighting the significance of employing anti-corrosive materials in fabricating BRBs to ensure their stable seismic performance under harsh environmental conditions. Investigating novel materials and configurations can lead to the creation of more robust and corrosion-resistant BRBs, thus enhancing the safety and longevity of structures in earthquake-prone areas.