Pulse oximetry measures oxygen saturation in the blood by detecting light absorption of oxygenated and deoxygenated hemoglobin. It was originally developed in the 1930s-1940s and further advanced in the 1970s. Pulse oximetry is now considered the fifth vital sign. It provides a noninvasive method to monitor oxygen saturation, with readings of 92% or above having high sensitivity and specificity for excluding hypoxemia. However, pulse oximetry has some limitations, including reduced accuracy at very low saturations, and inability to detect carboxyhemoglobin or methemoglobin. It also provides no information on pH, PCO2, or hemoglobin levels.