Industry 5.0 is the next industrial revolution that puts human-machine interaction, hyper-personalization, sustainable manufacturing, and resilient value chains into focus. The developing economies are limited massively in terms of their ability to adopt this paradigm despite the fact that the advanced economies are gradually shifting to this paradigm. The following paper discusses structural, technological, economic, institutional, and socio-cultural aspects as obstacles to the spread of Industry 5.0 capabilities. Based on a mixed-methodology framework, which incorporates literature review, stakeholder interviews, and comparative evaluation, the authors of the study highlight the following key issues: insufficient digital infrastructure, insufficient human capital preparedness, significant risk of capital investment, weak innovation ecosystems, and regulatory misalignment. Findings indicate that most companies in developing countries are still stuck in Industry 3.0 or initial Industry 4.0 maturity levels with the region opening increasingly large technological divides. The interrelation of barriers is emphasized in the discussion showing how socio-technical constraints support one another. The paper is completed by identifying feasible constraints like lack of longitudinal adoption of adoption data and industry-specific heterogeneity, and offers viable future directions that can be implemented by policymakers, industries and researchers to hasten the responsible adoption of Industry 5.0..