IPA: //haɪˈpɒk.siː.mi.ə//
KK: /haɪˈpɑkˌsiːmiə/
A condition where there is not enough oxygen in the blood.
The doctor diagnosed her with hypoxemia after reviewing her blood oxygen levels.
Hypoxemia is formed from "hypo-" (meaning under or below) and "oxemia" (from Greek "oxys" meaning sharp or acid, and "haima" meaning blood). The term refers to a condition of having insufficient oxygen in the blood.
Think of 'hypo-' meaning 'under' and 'oxemia' relating to 'oxygen in the blood' — so hypoxemia means having less oxygen in the blood.
No commonly confused words.