Stem cells are being investigated in applications in male pattern baldness and other forms of alopecia of the human scalp. This report explores the literature regarding the various applications of stem cells and their potential for future use in the correction of multifactorial etiologies for male or female pattern baldness. Different contemporary studies revealed that stem cells may be directly injected into the scalp to allow the growth of new hair follicles in males or females for the correction of alopecia. Stem cells may also be used in growth factor stimulation of existing inactive and atrophic follicles to yet again become viable and active follicles. Additional studies indicate that various regulatory mechanisms may be used to reinitiate the existing inactive follicle cells to regrow hair in male pattern baldness. Stem cells injected into the scalp could aid these regulatory mechanisms. In the future, stem cell treatment may serve as a viable option superior to the US Food and Drug Administration (FDA)-approved invasive and noninvasive techniques currently used to combat alopecia.