Pentosan polysulfate (PPS) is a polysulfated glycosaminoglycan derived from beechwood, classified as a heparin analogue. Researchers primarily study PPS for its potential applications in conditions such as osteoarthritis and interstitial cystitis, as well as its role in regulating iron metabolism. Key findings from recent studies indicate that PPS inhibits hepcidin-facilitated osteoclast differentiation and function, which may have implications for osteoporosis, while also demonstrating anti-inflammatory effects in models of diabetic nephropathy. Additionally, PPS has been shown to downregulate hepcidin expression in both in vitro and in vivo settings, suggesting a novel mechanism for managing iron homeostasis. Current research continues to explore the multifaceted therapeutic potential of PPS across various medical conditions.