Used primarily as a lipid-based prodrug in pharmaceutical formulations, this compound enhances the bioavailability of active ingredients by improving membrane permeability. Its esterified structure allows for controlled release in vivo, making it suitable for sustained-delivery systems. Commonly applied in topical and transdermal preparations due to its lipophilic nature, it aids in skin penetration and reduces irritation. Also utilized in the synthesis of biodegradable polymers for drug delivery and medical devices, where gradual hydrolysis of ester bonds enables predictable degradation profiles.