Glycodeoxycholic acid monohydrate is primarily used in biochemical research as a bile acid derivative to study its role in lipid digestion and absorption. It is often employed in cell culture studies to investigate its effects on cellular membranes and signaling pathways. Additionally, it serves as a reference standard in analytical methods for the quantification of bile acids in biological samples. Its application extends to pharmaceutical formulations where it aids in enhancing the solubility and bioavailability of poorly soluble drugs.