This chemical is primarily utilized in the field of drug delivery systems due to its ability to form inclusion complexes with various pharmaceutical compounds. Its structure allows for the encapsulation of drug molecules, enhancing their solubility, stability, and bioavailability. This makes it particularly valuable in improving the efficacy of poorly water-soluble drugs.

In addition to drug delivery, it finds applications in the development of biosensors. Its unique properties enable the selective binding of target molecules, which can be used to detect specific analytes in biological samples. This is crucial for diagnostic purposes and monitoring disease markers.

Furthermore, it is employed in the field of nanotechnology for the synthesis of nanoparticles. Its ability to stabilize and functionalize nanoparticles makes it a useful component in creating advanced materials with potential applications in catalysis, imaging, and targeted therapy.

Overall, its versatile properties make it a valuable tool in various scientific and industrial applications, particularly those requiring precise molecular interactions and enhanced material performance.