Research activities in microfluidics have exploded in the past decade and a half from just in a handful of laboratories to becoming an important research area in most major universities and research institutes in the world. Commercialization of microfluidics technologies, on the other hand, has been much less ubiquitous. In this presentation, the successes and key challenges in product development and commercialization will be examined, focusing on analyzing the role of scientific and engineering innovations that may be required to bring new microfluidics products and applications to the market.