Benzofuran-7-carboxylic acid is utilized in the synthesis of various pharmaceutical compounds, particularly in the development of drugs with anti-inflammatory, antimicrobial, and anticancer properties. Its structure serves as a key intermediate in organic synthesis, enabling the creation of complex molecules for medicinal chemistry. Additionally, it is employed in the production of agrochemicals, contributing to the development of pesticides and herbicides. Its carboxylic acid group allows for further functionalization, making it a versatile building block in chemical research and industrial applications.