Lucidenic acid E is primarily studied for its potential therapeutic benefits, particularly in the field of traditional medicine and modern pharmacology. It is known for its anti-inflammatory properties, making it a candidate for treating conditions associated with chronic inflammation, such as arthritis or inflammatory bowel disease. Additionally, its antioxidant effects are being explored for their ability to combat oxidative stress, which is linked to aging and various chronic diseases, including cardiovascular disorders and neurodegenerative conditions like Alzheimer's disease.

Research has also highlighted its potential anticancer properties, as it may inhibit the growth of certain cancer cells and induce apoptosis, or programmed cell death. This makes it a subject of interest in the development of novel cancer therapies. Furthermore, Lucidenic acid E has shown promise in supporting liver health by protecting against liver damage caused by toxins or excessive alcohol consumption. Its immunomodulatory effects are also being investigated for their potential to enhance the body's immune response.

In traditional medicine, particularly in East Asia, Lucidenic acid E is often associated with the use of medicinal mushrooms, such as Ganoderma lucidum (Reishi), which are believed to promote longevity and overall well-being. Its applications continue to be explored in both natural and synthetic forms, with ongoing studies aiming to unlock its full therapeutic potential.