Used as a chromogenic reagent in biochemical assays, particularly in enzyme-linked immunosorbent assays (ELISAs), to detect peroxidase activity. It produces a colored product when oxidized, enabling quantitative measurement of enzyme activity. Applied in clinical diagnostics for detecting biomarkers in blood, urine, and other biological samples. Also employed in research laboratories for studying enzymatic reactions and oxidative processes. Its water solubility and stability make it suitable for use in aqueous solutions, ensuring reliable and reproducible results.