Used as a photosensitizer in photodynamic therapy for cancer treatment due to its ability to generate reactive oxygen species under light irradiation. Also applied in antimicrobial treatments, where it effectively inactivates bacteria and viruses upon photoactivation. Serves as a catalyst in oxidation reactions, particularly in environmental applications for degrading organic pollutants. Its strong absorption in the visible light range makes it suitable for use in solar energy conversion systems. Additionally, utilized in biochemical research as a fluorescent probe for studying membrane structures and cellular processes.