It is widely used in photodynamic therapy (PDT) for cancer treatment due to its ability to generate reactive oxygen species when exposed to light, which can destroy cancer cells. It is also employed in the development of photosensitizers for various medical applications, including bioimaging where its fluorescence properties enable efficient tracking and study of cells or tissues in the body.

Additionally, it serves as a key component in organic solar cells, enhancing light absorption and energy conversion efficiency. In research, it is utilized as a model compound for studying porphyrin chemistry and photophysical properties, and as a catalyst or precursor in the synthesis of other porphyrin compounds with potential scientific and industrial applications.

Its applications extend to the field of environmental science, where it is used in photocatalytic processes for pollutant degradation.