Biological-based therapies are rapidly expanding for different musculoskeletal conditions because of their potential benefits including their minimal invasiveness, capacity for unprecedented healing, and potential for rapid recovery. In this regard, although several approaches have been reported in the literature, most of the body of the literature is increasingly based on platelet-rich plasma, bone marrow aspirate concentrate, and cell-based therapy studies. Although further basic science and clinical research is needed to elucidate the long-term outcome of these therapies in the treatment of several injuries, there is compelling evidence for their use for certain indications. The purpose of this article was to review the main aspects of bone marrow aspirate concentrate, which is one of the few forms of stem cell delivery approved by the Food and Drug Administration, and, furthermore, to critically assess the current evidence-based recommendations and identify potential avenues for development.