Stem cell therapy involves using stem cells to treat diseases. There are two main types of stem cells - embryonic stem cells which are pluripotent and derived from embryos, and adult stem cells which are multipotent and found in tissues. Stem cell therapy shows promise for treating conditions like leukemia, neurodegenerative diseases, brain/spinal cord injuries, heart disease, blindness, diabetes, and more. Gene therapy aims to treat genetic disorders by inserting, altering or removing genes to correct defective genes. It involves approaches like replacing an abnormal gene with a normal gene through gene transfer methods using physical, chemical or biological vectors like retroviruses.