The significance of the extinction vortex in conservation biology lies in its demonstration of how small population sizes can lead to further declines in biodiversity. An extinction vortex occurs when factors such as genetic drift, inbreeding depression, and environmental changes combine to accelerate the risk of extinction. As populations decrease, they become more vulnerable to these forces, creating a feedback loop that can be difficult to break. Understanding this concept is crucial for conservation efforts, as it emphasizes the need for interventions to maintain genetic diversity and population viability.