This chemical is widely used as a substrate in enzymatic assays, particularly in the detection of peroxidase activity. It is a key component in ELISA (Enzyme-Linked Immunosorbent Assay) tests, where it helps in the colorimetric detection of antibodies or antigens. The compound reacts with peroxidase enzymes to produce a green-colored product, which can be measured spectrophotometrically to quantify the enzyme activity. It is also employed in biochemical research for studying oxidative stress and antioxidant activity, as it undergoes a color change in the presence of reactive oxygen species. Additionally, it is utilized in diagnostic kits for detecting biomarkers in clinical samples, aiding in the diagnosis of various diseases. Its stability and sensitivity make it a preferred choice in many analytical and diagnostic applications.