Hematopoiesis is tightly regulated by a complex network of cytokines, growth factors, and transcription factors. Key regulatory molecules include erythropoietin (EPO), which stimulates red blood cell production, and granulocyte colony-stimulating factor (G-CSF), which promotes the production of granulocytes. The bone marrow microenvironment also plays a critical role in providing the necessary signals for HSC maintenance and differentiation.