This compound is primarily used in the synthesis of various pharmaceutical agents, particularly in the development of prodrugs. Its structure allows it to act as a protective group for amino acids, enhancing the stability and bioavailability of active pharmaceutical ingredients. It is also employed in peptide synthesis, where it helps in the controlled release of therapeutic peptides. Additionally, it finds application in research settings as an intermediate in the preparation of more complex molecules, contributing to advancements in medicinal chemistry and drug design.