In this research work new type of bioglass ceramics successfully synthesized the bioglass composition: 50SiO₂-30CaO-10P₂O5-10MgO by sol-gel technique which was further heated up to 600 °C. Different characterization techniques were applied on the prepared bioglass powder to obtain the structural information. X-ray powder diffraction (XRD) and fourier-transform infrared spectroscopy (FTIR) analysis confirms the amorphous nature and apatite formation on surface of the sample. The time dependent biological activity was tested on immersed samples with simulated body fluid (SBF). Structural configuration of the hydroxyapatite layer along with nano-size as well as texture properties of the samples were confirmed using field emission scanning electron microscope (FE-SEM), high-resolution transmission electron microscopy (HR-TEM) and Brunauer-Emmett-Teller (BET) techniques, respectively. It was found that magnesium performs a pivotal role in bone proliferation and improves the thermophysical properties of the synthesized bioglass ceramics. The antibacterial effects were studied by two well-known pathogen Escherichia coli (E. coli) and Staphylococcus aureus (S. aureus).