This chemical is primarily utilized in the field of photodynamic therapy (PDT) for cancer treatment. Its ability to absorb specific wavelengths of light makes it effective in generating reactive oxygen species (ROS) when exposed to light, which can destroy cancer cells. Additionally, it is used in the development of advanced materials for sensors due to its unique photophysical properties. The compound also finds applications in catalysis, particularly in oxidation reactions, where its porphyrin structure enhances efficiency. In research, it serves as a model compound for studying porphyrin-based systems in various biochemical and chemical processes.