Placental function is the academic field dedicated to the comprehensive investigation of the physiological processes and molecular mechanisms underlying the placenta's roles in sustaining pregnancy and supporting fetal development. This research area examines critical functions including nutrient and gas exchange, waste elimination, hormone production, immune modulation at the maternal-fetal interface, and the intricate regulation of fetal growth and well-being. As a multidisciplinary concept, it integrates insights from developmental biology, endocrinology, immunology, and cellular physiology to understand this dynamic organ, and is crucial for advancing knowledge of healthy gestation, identifying causes of pregnancy complications, and understanding developmental programming effects on long-term health.