This chemical is widely used in the pharmaceutical and cosmetic industries due to its excellent solubility and biocompatibility. In drug delivery systems, it serves as a key component in creating micelles and nanoparticles, enhancing the stability and bioavailability of hydrophobic drugs. Its hydrophilic properties make it ideal for modifying surfaces of medical devices to reduce protein adsorption and improve biocompatibility. In cosmetics, it is utilized as an emulsifier and stabilizer in formulations, ensuring smooth texture and long-lasting effects. Additionally, it plays a role in personal care products, providing moisturizing benefits and improving skin hydration. Its versatility and safety make it a valuable ingredient in various advanced applications.