Used as a versatile polymer in various industries due to its bifunctional nature and water-soluble properties. In pharmaceuticals, it serves as a linker or spacer in drug delivery systems, enhancing the solubility and stability of therapeutic agents. It is also utilized in the formulation of hydrogels for controlled drug release. In cosmetics, it acts as a moisturizing agent and emulsifier, improving the texture and efficacy of skincare products. Additionally, it finds applications in biotechnology for modifying proteins and peptides to enhance their functionality and biocompatibility. Its ability to form stable conjugates makes it valuable in diagnostic assays and imaging techniques.