Used primarily in the pharmaceutical industry as a precursor for the synthesis of various drugs, particularly those targeting diabetes and metabolic disorders. It serves as a building block for producing compounds that mimic natural sugars, aiding in the development of glucose-lowering medications. Additionally, it is utilized in the production of contrast agents for medical imaging, enhancing the visibility of tissues during MRI scans. In biochemical research, it acts as a reagent for modifying proteins and carbohydrates, facilitating studies on glycoprotein structures and functions. Its ability to chelate metals also makes it valuable in formulations aimed at detoxifying heavy metals from the body.