This article presents a state-of-the-art survey on the robotic systems, sensors, actuators, and collaborative strategies for physical human-robot collaboration (pHRC). This article starts with an overview of some robotic systems with cutting-edge technologies (sensors and actuators) suitable for pHRC operations and the intelligent assist devices employed in pHRC. Sensors being among the essential components to establish communication between a human and a robotic system are surveyed. The sensor supplies the signal needed to drive the robotic actuators. The survey reveals that the design of new generation collaborative robots and other intelligent robotic systems has paved the way for sophisticated learning techniques and control algorithms to be deployed in pHRC. Furthermore, it revealed the relevant components needed to be considered for effective pHRC to be accomplished. Finally, a discussion of the major advances is made, some research directions, and future challenges are presented.