Today stem cells have been used to grow ears, tracheae, and bladders; tomorrow it will be just about any tissue, any structure, of the human body. This means repairs to old, corrupted, or broken tissues. It doesn’t take a soothsayer to see that this technology is going to radically extend life span.
More interesting, perhaps, is what it might mean for consciousness (arguably a process governed by evolution). Our perception of time impacts our perception of the world. How deep this goes is unknown, but it is conceivable that a short-lived fruit fly has an experience of reality that is radically different from that of a long-lived turtle. As we start to push back death with tissue engineering, the downstream impact could reshape the way we see the world.