Magnesium is the most attractive biomaterial due to its unique bioresorbable nature with good mechanical properties and low density. Recently developed advance manufacturing techniques used to fabricate biodegradable porous Mg bone implant materials, its mechanical and biological performance have been reviewed. Advantages as well as limitations related to mechanical properties, in-vivo performance, corrosion, and tribological requirements are discussed. Future perspectives of closed-cell Mg-based biomedical implants, their benefits, and challenges are highlighted.