This study emphasizes on the application of Mg alloys and potential replacement of existing steel and titanium alloys with Magnesium. This study necessitates the combination of Ca, Zn, and Mn with Mg. The use of Mg based alloys is increasing at an exponential rate due to its high strength to weight ratio compared with other alloys. The Mg alloys used today have good corrosion resistance and thermal stability. Bio compatible implants play a vital role in bio medical applications. In general stainless steel implant are as substitute materials for bone and its connectors, then drawback of stainless steel is that its density does not match with the density of bone and also it is heavy which gives pain for the patients. This research work is focused on developing a new material to overcome the above said disadvantages. Mg alloys can be a substitute which is also one of the nutritional elements to the human body. Mg-based implants can be used as an alternative over Fe-based and Ti-based implants.