From Real Madrid's medical report:
Following the tests carried out on Gareth Bale by the Sanitas Medical Services, the player has been diagnosed with a grade 2 injury in his left calf. His recovery will continue to be assessed.
This means that Bale will not be able to play the Champions League Semifinals against Atletico de Madrid.
Players like Marco Asensio, Isco or James Rodriguez will now get another chance to prove their worth. Asensio will most likely be the one replacing Bale on the right wing after his good performances against Bayern and also against Barcelona. If he manages to play that well, it will be hard for Bale to earn back his spot in the starting XI even when he is completely recovered.
Bale will now try to be ready for the last week of the season and a potential Champions League Final.