Laser-based additive manufacturing is inherently associated with extreme, unprecedented, and rapid thermokinetics which impact the microstructural evolution in a built component. Such a unique, near to non-equilibrium microstructure/phase evolution in laser additively manufactured metallic components impact their properties in engineering application. In light of this, the present work investigates the unique microstructural traits as a result of process induced spatial and temporal variation in thermokinetic parameters in laser directed energy deposited CoCrMo biomedical alloy. The influence of such a unique microstructural evolution in laser directed energy deposited CoCrMo on electrochemical response in physiological media was elucidated and compared with a conventionally manufactured, commercially available CoCrMo component. Furthermore, while investigation of the electrochemical response, such a microstructural evolution in laser directed energy deposited CoCrMo led to in-situ surface modification of the built components in physiological media via selective, non-uniform electrochemical etching. Such in-situ surface modification resulted in enhanced biocompatibility in terms of mammalian cell growth, cell-substrate adhesion, blood compatibility, and antibacterial properties indicating improved osteointegration, compared to a conventionally manufactured, commercially available CoCrMo component.