This compound is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of nonsteroidal anti-inflammatory drugs (NSAIDs). It plays a crucial role in the development of medications designed to reduce inflammation, alleviate pain, and manage fever. Its structural properties make it suitable for further chemical modifications to enhance therapeutic efficacy and bioavailability. Additionally, it is explored in research for potential applications in treating chronic inflammatory conditions such as arthritis. Its use is strictly regulated to ensure safety and effectiveness in medical formulations.