Do multiple babies each have their own placenta?

In multiple pregnancies, whether each baby has their own placenta depends on how the embryos develop. In a set of identical twins (monozygotic), they may share one placenta or each have their own, depending on when the embryo splits. In fraternal twins (dizygotic), each baby typically has its own placenta. Overall, the number of placentas can vary based on the type of multiple pregnancy.