Background <p>Lipid-based drug delivery systems are widely used to enhance the bioavailability of various pharmaceutical agents. They offer several advantages, including biocompatibility, biodegradability, and low toxicity. However, they are often limited by formulation leakage, oxidation, hydrolysis, and short half-life.</p> Area covered <p>This review introduces the components of cochleates, mechanisms underlying their formation and absorption, and diverse preparation methods, along with their advantages and disadvantages. Furthermore, it discusses various analytical techniques for characterizing cochleates formulations and their advantages. A comprehensive review of publications on cochleates from the last decade is provided.</p> Expert opinion <p>Cochleates have the potential to overcome the inherent limitations of lipid-based drug delivery systems, such as susceptibility to oxidation and degradation by digestive enzymes. They offer several advantageous properties, such as enhanced cellular uptake and permeation, improved bioavailability, and low toxicity. In particular, the potential for oral administration and cancer-targeted accumulation make cochleates promising for drug delivery applications. Despite these advantages, challenges like difficulties in optimizing its composition, physical aggregation, and high costs must be addressed. Also, the lack of approved drugs based on this technology is a major limitation.</p>