The clinical application of degradable orthopedic magnesium implants is a tangible vision in medical science. This interdisciplinary review discusses many different aspects of magnesium alloys comprising the manufacturing process and the latest research. We present the challenges of the manufacturing process of magnesium implants with the risk of contamination with impurities and its effect on corrosion. Furthermore, this paper provides a summary of the current examination methods used in in vitro and in vivo research of magnesium alloys. The influence of various parameters (most importantly the effect of the corrosive media) in in vitro studies and an overview about the current in vivo research is given.