Used primarily in the pharmaceutical industry as a solubilizing and stabilizing agent for poorly water-soluble drugs. It enhances the bioavailability of active pharmaceutical ingredients by forming inclusion complexes, improving their solubility and dissolution rates. Commonly employed in injectable formulations, oral drugs, and ophthalmic solutions. Also utilized in cosmetics and personal care products to improve the stability and delivery of active ingredients. Its ability to reduce irritation and enhance the efficacy of compounds makes it valuable in various therapeutic and cosmetic applications.