Long-term chronic hypoxia can promote microangiogenesis through a variety of mechanisms to enhance the effective exchange of blood and tissue fluid and ensure oxygen transport, which is a physiological mechanism for the body to adapt to hypoxic environment. However, when the body suffers from various stresses such as severe trauma, infection, and hypoxia, microvascular hyperplasia may play adverse roles, and hypovolemic shock may occur in the early stage of the disease. With the development of the disease and inappropriate medical intervention, it is easy to develop capillary leakage and organ and tissue edema, thus aggravating the disease. At this time, the body may have special pathophysiology. This paper describes the physiological mechanism of microangiogenesis in chronic hypoxic environment and discusses its possible pathophysiological and clinical characteristics, which is beneficial to the accurate implementation of clinical treatment.