Catharanthine sulfate is primarily utilized in the pharmaceutical industry for its role in the synthesis of anticancer drugs. It serves as a key intermediate in the production of vinblastine and vincristine, which are vital chemotherapeutic agents used to treat various cancers, including Hodgkin's lymphoma, leukemia, and other solid tumors. Its application extends to research laboratories where it is studied for its potential in developing new therapeutic compounds. Additionally, it is employed in biochemical studies to understand its mechanism of action and its effects on cellular processes.