Ethyl 2-(acetoxymethyl)nicotinate is primarily used in the synthesis of pharmaceutical compounds, particularly in the development of drugs targeting the central nervous system. It serves as a key intermediate in the production of nootropic agents, which are designed to enhance cognitive functions such as memory and focus. Additionally, this compound is utilized in research for creating analogs of nicotinic acid derivatives, which have potential applications in treating neurodegenerative diseases. Its role in medicinal chemistry is significant due to its structural properties, which allow for modifications that can lead to the discovery of new therapeutic agents.