This chemical is primarily utilized in the field of biomedical research and drug development. It serves as a specialized polymer for modifying the properties of therapeutic agents, particularly in enhancing their solubility and stability in biological systems. Its application is crucial in the design of drug delivery systems, where it helps in prolonging the circulation time of drugs in the bloodstream, thereby improving their efficacy. Additionally, it is employed in the synthesis of biocompatible materials used in medical devices and implants, ensuring better compatibility with human tissues. Its role in advanced nanotechnology applications, such as targeted drug delivery and imaging, is also significant, making it a valuable component in modern medical science.