Primarily used as an intermediate in the synthesis of nonsteroidal anti-inflammatory drugs (NSAIDs), this compound plays a crucial role in the development of medications aimed at reducing inflammation, pain, and fever. Its structure is particularly valuable in creating derivatives that target cyclooxygenase enzymes, which are involved in the inflammatory response. Additionally, it is utilized in research settings to study the mechanisms of action of anti-inflammatory agents and to develop new therapeutic compounds with improved efficacy and reduced side effects.