Regulations for pharmaceuticals continue to tighten and increase the demand for more testing and require more information to be deemed safe by the United States Food and Drug Administration. Raman spectroscopy is a widely used analytical technique in the field of pharmaceutical analysis, primarily due to its ability to provide detailed molecular and spatial information about a wide range of compounds and components of interest that are commonly used in pharmaceutical formulation with relative ease. The most prominent applications of Raman spectroscopy in the field of pharmaceutical analysis are explored to highlight their inherent benefits and possible complications. Herein, a brief background and survey of utilization are provided for surface-enhanced Raman spectroscopy, Fourier-transform Raman spectroscopy, and Raman microscopy. Current technological developments in Raman spectroscopy are also discussed to demonstrate the ongoing advancement in instrument operation and regulatory compliance.