TLDR  Hair follicle stem cells can turn into many cell types and may help repair nerve damage and have other medical uses.   
  In the 2008 study, Robert M. Hoffman demonstrated that hair follicle stem cells (HFSCs) are a multipotent and accessible source of adult stem cells, capable of differentiating into a variety of cell types such as neurons, glia, keratinocytes, smooth muscle cells, and melanocytes. These cells, identifiable by CD34 and nestin expression but not keratin 15, were able to form blood vessels and neural tissue in vivo and promote nerve regeneration and functional recovery when transplanted into severed peripheral nerves in nude mice, primarily differentiating into Schwann cells. This research suggests that HFSCs could be a valuable autologous stem cell source for peripheral nerve injury treatment and potentially for broader regenerative medicine applications.
            829 citations
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  May 2007   in “Nature”
           829 citations
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  May 2007   in “Nature”    Hair follicles can regrow in wounded adult mouse skin using a process like embryo development.  
               212 citations
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  August 2004   in “Proceedings of the National Academy of Sciences”    Hair follicle cells can create new blood vessels in the skin.  
               268 citations
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  December 2003   in “Experimental Dermatology”    Hair follicle cells can become fat and bone cells.  
               949 citations
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  January 2001   in “Cell”    Adult mouse skin contains stem cells that can create new hair, skin, and oil glands.  
               1010 citations
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  August 2000   in “Cell”    Hair follicle stem cells can form both hair follicles and skin.  
    
  
        
        11 citations
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  September 2019   in “Dermatologic Surgery”
           11 citations
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  September 2019   in “Dermatologic Surgery”    A substance called Vascular Endothelial Growth Factor can protect certain hair follicle stem cells from damage caused by androgens, suggesting a new possible treatment for hair loss.  
      29 citations
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  May 2020   in “npj Regenerative Medicine”
           29 citations
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  May 2020   in “npj Regenerative Medicine”    Immune cells help regulate hair growth, and better understanding this can improve hair loss treatments.  
               10 citations
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  October 2019   in “Iranian Biomedical Journal”    Simvastatin helps hair follicle stem cells turn into skin cells.  
               25 citations
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  January 2015   in “World journal of stem cells”    Hair follicle stem cells can become different cell types and may help treat neurodegenerative disorders.  
      25 citations
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  April 2021   in “The EMBO Journal”
           25 citations
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  April 2021   in “The EMBO Journal”    Hair follicle stem cells help maintain skin health and could improve skin replacement therapies.