The skin, one of the largest organs of the human body, constantly acts as a self-regulating barrier that protects against water loss and stabilizes both the internal and external environment. When healthy, it acts as a natural shield, but when it succumbs to illness, its defense functions are weakened. Small particles and microorganisms can then penetrate the stratum corneum more easily, and valuable nutrients such as water and electrolytes are lost more quickly. Changes in lifestyle and the environment have contributed to an increase in skin diseases in recent years [1,2]. The treatment of dermatological conditions mainly involves pharmacotherapy and physiotherapy. Transdermal drug delivery has significant advantages over oral methods and injections, as it delivers active ingredients directly to the damaged tissues where symptoms occur. New drug delivery methods have been developed to improve efficacy, stability, and protection in response to these challenges. A breakthrough has been the transdermal drug delivery system (TDDS), which enables effective absorption of active ingredients through the skin. According to studies, more than 70% of patients and physicians choose TDDS to treat dermatological diseases [3]. This method has many advantages, such as direct action on the skin, bypassing the first-pass effect through the liver, high bioavailability, maintaining stable drug concentrations in the blood, low incidence of side effects, and the possibility of rapid discontinuation of therapy. However, the main obstacle to using TDDS is the presence of an impermeable outer layer of skin, which impedes the penetration of active substances. The stratum corneum (SC) comprises flat, keratinized cells and is the main barrier to the active ingredients of cosmetics and drugs [4,5]. To overcome this barrier, several carriers in which small amounts of active ingredients are encapsulated have begun to be developed [6]. Modification of drugs and other active ingredients at the nanoscale significantly improves their therapeutic efficacy and reduces the risk of side effects. One solution for increasing the permeation of drugs and cosmetic substances is vesicular systems such as liposomes and ethosomes. In recent years, topical drug delivery in the form of liposomes has become increasingly popular [7]. Deformable liposomes were the first generation of flexible vesicles that could penetrate the intact skin barrier. These lipid-rich vesicles are believed to transport a significant amount of drugs through the skin, increasing their systemic absorption. However, classical liposomes cannot penetrate deeply into the skin due to their large particle size, high manufacturing costs, and low stability. On the other hand, ethosomes, due to the high elasticity of the vesicular membranes, penetrate the skin much more efficiently, delivering more significant amounts of active ingredients to greater depths compared to conventional liposomes. Despite many positive aspects resulting from using ethosomes, they also have several significant disadvantages that are still being studied. The most unfavorable features of ethosomes include low efficiency and skin irritation caused by excipients and ethanol, and their production may be unprofitable. Additionally, the product is lost during the transition from organic to aqueous environments [8]. Liposomes and ethosomes are an excellent drug delivery technique. However, only a few liposome and ethosome products are available on the market, which means that the advantages of liposomes and ethosomes have not been fully exploited. Therefore, in this review, we summarized the knowledge about liposomes and ethosomes and their commercial products approved by the FDA and EMA. This review aims to provide the latest information to accelerate the development of liposome and ethosome technology.