Used as a dietary supplement due to its potential insulin-mimetic properties, helping improve glucose metabolism in individuals with insulin resistance or type 2 diabetes. Commonly marketed to athletes and bodybuilders for its purported ability to enhance muscle strength, endurance, and protein synthesis, although clinical evidence remains limited. Employed in research settings to study cellular signaling pathways involving insulin and glucose uptake. Also utilized in industrial applications as a catalyst in oxidation reactions and in the production of vanadium-based chemicals.

Caution is advised for long-term use, as vanadium can accumulate in the liver and kidneys, potentially leading to toxicity in these organs.