This chemical is widely used as a chromogenic reagent in biochemical and clinical assays. It is particularly valuable in enzymatic reactions where it serves as a substrate for peroxidase enzymes, producing a measurable color change that aids in the detection and quantification of analytes. Its application is prominent in diagnostic kits for measuring substances like glucose, cholesterol, and hydrogen peroxide in biological samples. Additionally, it is utilized in research laboratories for studying oxidative stress and antioxidant activity due to its sensitivity to reactive oxygen species. The compound’s stability and water solubility make it a reliable choice for various analytical and diagnostic purposes.