<p>Stem cell therapy has shown significant efficacy as a viable treatment for several resistant diseases. Despite the increasing number of stem cell products on the market worldwide, the clinical translational application of stem cell products still faces many challenges. This review presents a comprehensive analysis and overview of registered stem cell clinical trials and commercialized stem cell products globally, emphasizing their applicability and promise in clinical translational research. The extensive production and quality assurance of clinical-grade stem cell products is crucial for clinical application and serves as the foundation for guaranteeing product safety and efficacy. We propose and discuss the establishment of standardized methods for the manufacture and quality assurance of stem cell products. In response to the challenges encountered by stem cell products in clinical translational applications, we propose strategies to enhance the efficacy and safety of these products in terms of heterogeneity, administration methods, co-transplantation, Good Manufacturing Practices (GMPs), transplant locations, genetic modifications, biomaterials, and culture conditions. These advancements require multidisciplinary cooperation and ongoing inventive research to provide more effective and safer treatment alternatives for a greater number of patients, thereby broadening the therapeutic applications of stem cell products and establishing a platform for subsequent advancements in regenerative medicine.</p>