Magnesium is among the plentiful minerals present in natural sources, serving as a crucial macronutrient for the human body, with numerous studies validating its distinctive traits such as remarkable biocompatibility within the human system, diminished stress shielding, and proficient physical and chemical characteristics. These attributes are pivotal elements when employing the mineral in alloys and composites for the fabrication of biomedical components. One particular application involves the utilization of magnesium-based alloys and composites in the creation of coronary stents and bone implants. The ability to manufacture magnesium-based biomedical components with precision and reduced material wastage through additive manufacturing methods has prompted a transition away from the conventional manufacturing processes presently in use. This review aims to offer a thorough assessment of the application of additive manufacturing in producing magnesium alloys and composites for biomedical purposes. The paper comprises a comparative examination of the fabrication methods presently employed for the production of these alloys and composites, with a particular emphasis on various additive manufacturing techniques. Furthermore, it delves into the surface modification of additively manufactured implants, which has shown considerable improvements in biocompatibility and corrosion resistance, which are crucial parameters in the realm of biomedicine.