Used in pharmaceutical formulations to enhance the solubility and stability of poorly water-soluble drugs. It forms inclusion complexes with drug molecules, improving their bioavailability and delivery. Commonly applied in ophthalmic solutions due to its low toxicity and good tolerability. Also utilized in cosmetic products for controlled release of active ingredients and in diagnostic applications to stabilize sensitive compounds. Its ability to protect labile molecules from degradation makes it valuable in both drug development and industrial applications.