This review aims to explore the factors influencing the prescribing behavior of medicines by physicians from the developed and developing world. Scopus and Google Scholar electronic databases were searched from 2011 to 2021 using free-text words and medical subject headings relevant to the topic. Studies included were cross-sectional studies, longitudinal studies, and reviews. Studies with narrative reviews, case reports, opinion polls, and letters to the editor were excluded from data synthesis. Three reviewers independently extracted the data based on study design, study year, country, participant characteristics, setting, and other details collected. Physicians’ prescribing behavior is influenced by main factors like product-related factors, product promotion factors, physicians’ professional factors, and physicians' Psychological or Personality trait factors. Physicians’ prescribing decisions are complex, with multiple stakeholders playing their roles across the value chain. A thorough understanding of the various factors which vary from product-related to product promotion to physician’s professional factors and Physicians’ personality traits from both developed and developing countries can further enhance the development of various physician-centric initiatives from both the authorities and pharmaceutical organizations, toward enhancing the physician’s awareness, knowledge, and capabilities towards improvement in their precision of care, with evidence-based medicine. The ultimate goal is to empower physicians to make better prescribing decisions from the available therapeutic alternatives, which suit the patient best for faster recovery with safety from the disease condition.