Hb Bart's is clinically significant because its presence indicates a severe disruption in the synthesis of alpha globin chains. This is most commonly associated with alpha-thalassemia, particularly the most severe form known as Hemoglobin Bart's hydrops fetalis. This condition can lead to fatal outcomes in utero or shortly after birth. Therefore, the detection of Hb Bart's can be a crucial diagnostic marker for prenatal screening and early intervention in affected pregnancies.