Gossypol acetate is primarily used in the medical field due to its potential therapeutic properties. It has been studied for its anti-cancer effects, particularly in treating certain types of tumors, as it can inhibit cell proliferation and induce apoptosis. Additionally, it has shown promise as a male contraceptive by reducing sperm production and motility. In veterinary medicine, it is explored for its antiparasitic properties, helping to combat infections in livestock. Its application in these areas continues to be researched for safety and efficacy.