Can Lab-grown Diamonds Replace The Real Thing?

Not really. Natural diamonds and lab-grown diamonds or synthetic diamonds have found their space and opportunity in the consumer market. Natural rubies, sapphires and emeralds have coexisted with synthetic or lab-grown rubies, sapphires and emeralds for decades and the same should be possible with diamonds. 

Useful link:

https://edition.cnn.com/style/article/lab-grown-diamonds-ethical-luxury-sept