This chemical is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of more complex molecules. Its structure, featuring a cyclopentane ring with functional groups, makes it valuable for constructing pharmacologically active compounds, particularly in the development of potential drug candidates. Researchers often employ it in the synthesis of molecules with anti-inflammatory, antimicrobial, or other therapeutic properties. Additionally, its reactivity allows for further modifications, enabling the creation of diverse chemical libraries for screening in drug discovery programs.