Steric effects are critical to chemistry, biochemistry, and pharmacology.  In organic chemistry, steric effects are nearly universal and affect the rates and activation energies of most chemical reactions to varying degrees.
In biochemistry, steric effects are often exploited in naturally occurring molecules such as enzymes, where the catalytic site may be buried within a large protein structure. In pharmacology, steric effects determine how and at what rate a drug will interact with its target bio-molecules.