If you think that only your baby is growing and developing in your womb, you’re wrong. Growing along with your child is the placenta. It is a tough tube full of veins, and is responsible for providing things your baby needs to survive and grow, like oxygen and hormones. The placenta is attached to the womb’s lining. Your baby is connected to it through the umbilical cord. What is the importance of the placenta? The placenta plays a vital role in keeping your child alive and healthy.