Baccatin III is primarily used as a key intermediate in the semi-synthetic production of paclitaxel, a widely used chemotherapy drug. Paclitaxel is effective in treating various cancers, including ovarian, breast, and lung cancer, by inhibiting cell division and preventing the growth of cancer cells. Baccatin III serves as a starting material in the chemical modification process to produce paclitaxel, making it a critical component in the pharmaceutical industry. Additionally, it is utilized in research and development to explore new derivatives and analogs of taxane-based drugs, aiming to improve efficacy and reduce side effects in cancer treatment.