Injections made from perinatal or amniotic tissue are sometimes advertised as a “stem cell” therapy, but that’s misleading at best.
Although perinatal tissue does naturally contain stem cells, by the time the tissue makes its way to the injectable form, there are no living stem cells remaining.
However, the growth factors and other key proteins that remain in the injectable material help “recruit” the stem cells you already have in your own body, directing them to the site of injury to repair the damage.
So it would be fair to say that stem cells are involved, but they are your own stem cells. You are not being injected with them.