Abstract: Stem cells are unique and highly powerful cells, which have immense potential for treating various conditions. There are different types of stem cells based on the sources they are derived from and also based on their ability to differentiate into other types of cells. The detailed study of stem cells is important for scientists to understand how the cells grow and differentiate, and how the human body works on a cellular level. In addition to the research interest in stem cells, the clinical applications of stem cells are increasing constantly. Stem cells can be induced to change into new cells of specific tissues or organs, which can then be used for treating diseases. There are already a few established stem cell therapies, and many more in clinical trials.