Polymer science implements its applications in pharmacy and in other areas even in space research. A detailed research review has been undertaken taking care of emphasis in the field of pharmacy. Verifications have been conducted with regard to the different levels of synthesis, structure, configuration and properties of these macromolecules. Mechanism of gelling is diagrammatically exhibited and applications of polymers in pharmacy which include different dosage forms, packaging etc. have been revived. An awareness regarding this also have been discussed. Physical and chemical properties of polymers depend on the structural configuration which can be used to alter the drug release. Rheological properties are influenced greatly by the degree of polymerization.