5-Iodobenzofuran is primarily utilized in organic synthesis as a versatile building block for the construction of more complex molecules. Its iodine atom makes it a valuable intermediate in cross-coupling reactions, such as Suzuki-Miyaura and Sonogashira couplings, which are essential in the development of pharmaceuticals, agrochemicals, and materials science. Additionally, it serves as a precursor in the synthesis of heterocyclic compounds, which are often explored for their biological activities, including potential anticancer and antimicrobial properties. Its application extends to the field of medicinal chemistry, where it is used to design and optimize drug candidates with improved efficacy and selectivity.