For conventional/traditional reasons. Often we'd have three parts to the regex, the pattern, the substitution, and the modifiers. For example, the substitution command:
s/Hello/G'day/g
has three components: the Hello
which is the pattern - we want to find "Hello", the G'day
which is the substitution - we want to replace "Hello" with "G'day", and g
which are the modifiers - in this case, g
means to do it as many times as possible and not just once.
With some languages, they have the components as separate arguments rather than being delimited using slashes.
Often if you see it without any slashes, it means it's the pattern. If for some reason a language surrounds a pattern with slashes, you know it means it's the pattern.
Hope this helps. :)