Point‐of‐care (POC) diagnostic devices have been predicted to provide a boon in health care especially in the diagnosis and detection of diseases. POC devices have been found to have many advantages like a rapid and precise response, portability, low cost, and non‐requirement of specialized equipment. The major objective of a POC diagnostic research is to develop a chip‐based, self‐containing miniaturized device that can be used to examine different analytes in complex samples. Further, the integration of microfluidics (MF) with advanced biosensor technologies is likely to result in improved POC diagnostics. This paper presents the overview of the different materials (glass, silicon, polymer, paper) and techniques for the fabrication of MF based POC devices along with their wide range of biosensor applications. Besides this, the authors have presented in brief the challenges that MF is currently facing along with possible solutions that may result in the availability of the accessible, reliable, and cost‐efficient technology. The development of these devices requires the combination of developed MF components into POC devices that are user‐friendly, sensitive, stable, accurate, low cost, and minimally invasive. These MF based POC devices have tremendous potential in providing improved healthcare including easy monitoring, early detection of disease, and increased personalization. Overview on the latest advancements in the field of microfludics based point‐of‐care devices, that can be integrated with the biorecognition elements, for miniaturization and ease of multiplexing.