This compound is primarily utilized in biochemical and pharmaceutical research due to its role as a coenzyme in various metabolic processes. It is essential in studies involving enzyme kinetics and cellular metabolism, particularly in reactions related to energy transfer and redox processes. Additionally, it is employed in the development of therapeutic agents targeting metabolic disorders, as it plays a critical role in modulating enzymatic activity. Its application extends to diagnostic assays, where it serves as a marker or reagent to evaluate metabolic pathways and enzyme functions.