A bio-implant is a medical device used to support, replace or enhance a biological structure. Bio-implants have incalculable importance for mankind due to their crucial applications in situations like heart diseases, joint replacements, bone fixation and bone replacements etc. The materials which are used to manufacture bio-implants are generally called biomaterials. Corrosion and biocompatibility of biomaterials are the two issues, which are needed to be addressed to enhance the life span of the bio-implants. Various strategies were used to enhance the performance of biomaterials; however surface modification and alloying are the two main strategies among them. To employ these two strategies; various ceramic, metallic and composite materials were utilized as coatings and alloying elements with different biomaterials. Among all these materials, Niobium and Tantalum metals are studied by various researchers and proved to improve the corrosion resistance as well as biocompatibility of the bioimplants. This article gives a systematic overview of research work carried out in the area of bio-implants by utilizing Niobium and Tantalum for the enhancement of corrosion resistance and biocompatibility.