Conocarpan acetate is primarily used in research settings for its biological activity, particularly in studies related to anti-inflammatory and anticancer properties. It has shown potential in inhibiting the growth of certain tumor cell lines, making it a compound of interest in early-stage drug discovery. Its structural features also make it useful as a reference standard in phytochemical analysis, especially in the study of natural products derived from medicinal plants. Additionally, it serves as a lead compound for synthetic modifications aimed at enhancing bioavailability and therapeutic efficacy.