HPLC is crucial in bioanalytical research for several reasons. It allows for the precise quantification and identification of biomolecules such as proteins, peptides, nucleotides, and small molecules. The technique is also versatile, enabling researchers to analyze a wide range of biological fluids, including blood, urine, and tissue extracts. Additionally, HPLC can be coupled with various detectors, such as UV, fluorescence, and mass spectrometry, to enhance its analytical capabilities.