Pulse oximetry is significant in health assessments as it measures the oxygen saturation of a person's blood, providing crucial information about respiratory function. This non-invasive method helps in monitoring patients with conditions such as chronic obstructive pulmonary disease (COPD) or asthma, as well as during surgeries and recoveries. Pulse oximetry can detect hypoxemia, a condition where oxygen levels are dangerously low, allowing for timely medical intervention. Thus, it serves as an essential tool in evaluating overall health and guiding treatment plans.