Final answer:
Stem cell therapy is used today to treat diseases such as certain types of leukemia and blood disorders, and continues to be an extensive field of research for other potential treatments.
Step-by-step explanation:
Stem cell therapy is both a current treatment option for certain conditions and an active area of research. Stem cells are currently used in treatments for diseases like certain types of leukemia and disorders of the blood. The therapy primarily involves hematopoietic stem cells, which are derived from bone marrow, peripheral blood, or umbilical cord blood.
These stem cells can differentiate into various types of blood cells and are used to treat conditions like leukemia, lymphoma, and some inherited blood disorders. Despite these advances, many challenges remain. The differentiation potential of embryonic stem cells is nearly unlimited, but they can be rejected by the patient's immune system and their use involves ethical and legal considerations due to the destruction of embryos.
In addition to these clinically applied therapies, intensive research is ongoing to harness the power of stem cells for the regeneration and repair of damaged tissues in diseases such as diabetes, heart disease, and kidney damage. Adult stem cells, found in small numbers in most body tissues, are a focus of this research. They offer the potential to renew and repair tissues but currently see limited use in human patients due to technical and regulatory hurdles.