抓 is an extremely common verb used in many different situations, from everyday life to formal news reports.
Physical Actions: This is its most common use. It's used for grabbing an item, catching a thrown object (if it requires a “grab”), or catching an animal.
Games and Entertainment: The term 抓娃娃 (zhuā wáwa), “to grab dolls,” is universally understood to mean playing a claw machine, a massively popular pastime in malls and arcades across China.
Law and Order: In news reports and crime dramas, you will constantly hear 抓 (zhuā) or 抓捕 (zhuābǔ) to mean “to arrest” or “to capture” a suspect.
Abstract Concepts: 抓 is frequently used with abstract nouns like “time” or “opportunity.” 抓紧时间 (zhuājǐn shíjiān) means “to make the most of one's time” or “to hurry up.” 抓住机会 (zhuāzhù jīhuì) means “to seize an opportunity.”
Bodily Sensations: To describe scratching an itch, you use 抓痒 (zhuā yǎng).
Colloquialisms: A unique and common colloquial use is 抓药 (zhuā yào), which literally means “to grab medicine.” It refers to going to a pharmacy, especially a traditional Chinese medicine (TCM) pharmacy, to have a prescription filled. The term harks back to when pharmacists would physically grab different herbs to fill a prescription.