Cholesteryl arachidonate is primarily utilized in research settings to study lipid metabolism and the role of cholesterol esters in biological systems. It serves as a model compound to investigate the behavior of cholesterol esters in cell membranes and lipoproteins, which are crucial for understanding cardiovascular health and lipid-related disorders. Additionally, it is used in the development of lipid-based drug delivery systems, where its properties help enhance the stability and bioavailability of therapeutic agents. In biochemical studies, it aids in exploring the enzymatic processes involved in the synthesis and breakdown of cholesterol esters, providing insights into metabolic pathways and potential therapeutic targets for diseases like atherosclerosis.