Used primarily as a key intermediate in the synthesis of pharmaceuticals and bioactive compounds. Its structure supports the development of indazole-based derivatives with potential therapeutic effects, including anti-inflammatory, anticancer, and antimicrobial activities. Commonly employed in medicinal chemistry for constructing heterocyclic frameworks that enhance drug stability and receptor binding. Also utilized in research settings to develop novel analogs for structure-activity relationship (SAR) studies. Its aldehyde functional group allows for easy modification through reactions such as reductive amination, Wittig, or nucleophilic addition, making it valuable in the design of compound libraries for drug discovery.