Used in pharmaceutical formulations to enhance the solubility and stability of poorly water-soluble drugs. Acts as a drug delivery enhancer by forming inclusion complexes, improving bioavailability. Applied in topical and injectable preparations due to its low toxicity and biocompatibility. Also utilized in cosmetic products for controlled release of active ingredients and to improve skin penetration while reducing irritation.

Shows anticoagulant properties in some medical applications, similar to heparin-like activity, making it useful in blood-contacting devices or coatings. Has potential as an antiviral agent, particularly against viruses that use heparin sulfate as receptors on cell surfaces, due to structural similarities that inhibit infection.

Employed in biological research for studying molecular interactions, as it binds effectively to various substances, especially small molecules or bioactive compounds. Additionally used in research for its ability to modulate cholesterol absorption and as a potential therapeutic agent in metabolic disorders.