This compound is widely utilized in chemiluminescent assays due to its ability to emit light upon chemical decomposition. It serves as a key component in diagnostic kits, particularly in immunoassays and DNA probe assays, where it acts as a substrate for alkaline phosphatase. The light emission triggered by enzymatic action allows for highly sensitive detection of target molecules, making it valuable in medical diagnostics, biotechnology research, and environmental monitoring. Its stability and efficient light output also make it suitable for applications in molecular imaging and high-throughput screening.