Substance P is an undecapeptide neurotransmitter involved in various physiological processes, including pain transmission, inflammation, and stress response. It is synthesized in the endoplasmic reticulum, distributed widely in the nervous system, and activates neurokinin 1 (NK1) receptors leading to diverse cellular responses. Substance P plays roles in vasodilation, mood regulation, and cell growth, and is implicated in conditions like anxiety and vomiting.