Industry 5.0, the fifth industrial revolution, consists of smart digital information and manufacturing technologies. This industrial revolution generates effective processes and makes rapid improvement in industries and healthcare. Solutions to challenges posed by COVID-19 pandemic can be identified with the deployment of Industry 5.0-based technologies. It helps to provide personalized therapy and treatment processes to the COVID-19 patients if a detailed patient’s information is available. The aim of Industry 5.0 technologies is to create a smart healthcare environment with real-time capabilities. During the COVID-19 pandemic, these technologies can provide a remote monitoring system in healthcare. This paper identifies and studies major technologies of Industry 5.0 helpful for the COVID-19 pandemic. The supportive features of Industry 5.0 for the COVID-19 pandemic are discussed diagrammatically. Finally, we identified and studied significant challenges faced in the context of Industry 5.0 technologies for the COVID-19 pandemic. The literature revealed that this technological innovation allows a high personalization level to fulfill personal specific demands of the patient and doctors. These technologies play a significant role in making the life of doctors better. Further, doctors can use this technology to focus on critically infected patients and provide proper appropriate information regarding their better treatment. Moreover, Industry 5.0 technologies can help doctors and medical students for required medical training during this COVID-19 outbreak.