Sodium 2,3-dimercaptopropanesulfonate monohydrate is primarily used as a chelating agent in medical treatments, particularly for heavy metal poisoning. It effectively binds to toxic metals like mercury, lead, and arsenic, facilitating their removal from the body through urine. This compound is also employed in industrial settings to detoxify metal-contaminated environments and in chemical research for its ability to stabilize metal ions in various reactions. Additionally, it finds application in the synthesis of pharmaceuticals and as a stabilizer in certain polymer production processes. Its unique properties make it valuable in both healthcare and industrial applications for managing metal toxicity and contamination.