What does the Oxygen dissociation curve represent?

Haemoglobin is a red coloured iron containing pigment present in the RBCs. O₂ can bind with haemoglobin in a reversible manner to form oxyhaemoglobin. Each haemoglobin molecule can carry a maximum of four molecules of O₂. Binding of oxygen with haemoglobin is primarily related to partial pressure of O₂. Partial pressure of CO₂, hydrogen ion concentration and temperature are the other factors which can interfere with this binding. A sigmoid curve is obtained when percentage saturation of haemoglobin with O₂ is plotted against the pO2. This curve is called the Oxygen dissociation curve and is highly useful in studying the effect of factors like pCO2, H⁺ concentration, etc., on binding of O₂ with haemoglobin. In the alveoli, where there is high pO2, low pCO2, lesser H⁺ concentration and lower temperature, the factors are all favourable for the formation of oxyhaemoglobin,