Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the production of antiviral and anti-inflammatory agents. Its cyclic structure and functional groups make it valuable for modifying molecular frameworks to enhance drug stability and bioavailability. Also employed in the development of biodegradable polymers due to its ability to participate in condensation polymerization, forming polyesters with controlled rigidity and degradation rates. Additionally, it serves as a building block in chiral synthesis, supporting the creation of enantiomerically pure compounds for advanced medicinal chemistry research.