Stem cell research has emerged as a transformative domain in biomedical science, offering unprecedented opportunities in regenerative medicine, disease modeling, and therapeutic innovation. This paper examines the global evolution of stem cell science and situates India within this dynamic landscape. It reviews advances in stem cell biology, classification, and product development, including applications in regenerative medicine, gene editing, and exosome-based therapies. The analysis highlights India’s stem cell market trajectory, shaped by the ICMR-DBT regulatory framework, contributions from research institutes and biotech firms, and increasing government support. Therapeutic applications across diabetes, cardiovascular diseases, neurodegenerative disorders, oncology, and orthopedics are discussed alongside ongoing clinical trials and translational research. Key challenges identified include high costs, regulatory complexities, ethical concerns, and gaps in awareness and infrastructure. Despite these barriers, the sector holds significant promise for healthcare innovation, economic growth, and job creation. Comparative insights indicate that India, while lagging behind advanced economies, possesses distinct advantages that could enable it to evolve into a global hub for stem cell-based products. The paper concludes by offering policy recommendations emphasizing indigenous R India, ICMR-DBT guidelines, healthcare economy
Sharma et al. (Mon,) studied this question.