Widely used in pharmaceutical formulations to enhance the solubility and stability of poorly water-soluble drugs. It forms inclusion complexes with active pharmaceutical ingredients, improving their bioavailability and dissolution rate. Commonly employed in injectable, ocular, and nasal drug delivery systems due to its low toxicity and good biocompatibility. Also used in cosmetic products to stabilize volatile or sensitive ingredients and reduce irritation. Finds application in diagnostics and gene delivery systems where controlled release and molecular encapsulation are required.