This chemical is widely used as a chromogenic reagent in biochemical and clinical diagnostics, particularly in enzymatic assays. It serves as a key component in the detection of hydrogen peroxide, often paired with peroxidase enzymes, to produce a measurable color change. This property makes it valuable in diagnostic kits for measuring glucose, cholesterol, and other analytes in blood and urine samples. Additionally, it is utilized in research laboratories for developing sensitive and specific assays to study oxidative stress and enzyme activity. Its stability and reactivity in aqueous solutions make it a reliable choice for various analytical applications.