While cell-based scaffolds represent a promising approach in tissue regeneration, limitations such as poor cell survival, immunogenicity, and scalability have prompted the development of cell-free therapies. Exosomes (EXOs), nanosized extracellular vesicles derived from mesenchymal stem cells (MSCs), have emerged as pivotal therapeutic agents for skin wound healing. These vesicles overcome challenges in chronic and acute wound management by promoting functional skin restoration through intricate modulation of angiogenesis, immunoregulation, extracellular matrix (ECM) remodeling, and re-epithelialization. This review provides a detailed analysis of MSC and EXO biology, highlighting how MSC source influences EXO cargo and function. We discuss the integration of EXOs into advanced biomaterial scaffolds, including 3D-bioprinted hydrogels and electrospun nanofibers, which enhance EXO retention and sustain release at the wound site. The review critically evaluates the mechanisms through which EXOs activate key signaling pathways (PI3K/Akt, TGF-β/Smad) to coordinate healing. Furthermore, we summarize current preclinical and clinical trials, available commercial products, and the significant challenges-including EXO heterogeneity, isolation standardization, and regulatory hurdles-that must be addressed to realize the clinical potential of EXO-based therapies. By synthesizing current knowledge and future perspectives, this review aims to advance the design of novel, effective cell-free scaffolds for reparative medicine.