4-Aminoindan is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmaceutical compounds. Its structure serves as a building block for the development of drugs targeting neurological disorders, particularly those related to dopamine regulation. It is also explored in the creation of potential antidepressants and anxiolytics due to its ability to interact with serotonin and dopamine receptors. Additionally, 4-Aminoindan finds application in research settings for studying the biochemical pathways associated with neurodegenerative diseases. Its derivatives are being investigated for their potential in treating conditions like Parkinson's disease and depression.