Deferoxamine is primarily used in two scenarios: chronic iron overload and acute iron toxicity. Chronic iron overload often occurs in patients undergoing frequent blood transfusions, such as those with thalassemia or sickle cell anemia. Acute iron toxicity, on the other hand, is more common in children who accidentally ingest iron supplements. Deferoxamine is crucial in both these contexts to prevent the debilitating effects of iron accumulation.