Widely used in pharmaceuticals and biotechnology as a non-ionic surfactant and solubilizing agent. Enhances drug delivery by improving the solubility and stability of poorly water-soluble drugs. Commonly employed in controlled-release formulations due to its ability to form gels at body temperature. Used in tissue engineering and cell culture applications because of its biocompatibility and low toxicity. Also serves as a key component in topical and injectable drug products, helping modulate release rates and reduce irritation. Frequently utilized in the formulation of ointments, creams, and suppositories. Its amphiphilic nature makes it effective in stabilizing emulsions and nanoparticles for targeted delivery systems.