This compound is primarily used in research and development within the field of lipid biochemistry. It serves as a model phospholipid to study the behavior and properties of lipid membranes, particularly in understanding membrane structure, dynamics, and interactions. It is also utilized in the preparation of liposomes, which are artificial vesicles used for drug delivery systems, enabling targeted and controlled release of therapeutic agents. Additionally, it finds application in biophysical studies to investigate the role of phospholipids in cellular processes and membrane-associated phenomena.