Meanwhile Jesus has also gone under the knife, but he could miss up to a year after rupturing his anterior cruciate ligament for a second time.
With Arsenal six points behind league leaders Liverpool and without two key attackers, fans are desperate for new additions to be brought in to solve a lack of creativity in the duo's absence.
There is also fear that Kai Havertz, Gabriel Martinelli and Leandro Trossard could pick up knocks with the trio barely being given any rest over the last month.
And speaking in his pre-match press conference ahead of Saturday's clash at Wolves, Arteta reaffirmed his desire for signings when asked whether he believes it is a necessity that a forward is brought in.
To which he stated: "My message is clear, we lost two very important players - Bukayo Saka and Gabriel Jesus.
"So we lack goals, we lack people, we lack options in the front line, it's clear."
Pressed again on whether it's essential that Arsenal bolster their attack, Arteta remarked: "If we can get the right player, that's why we are actively looking at it.
"Any player? No. Someone that makes us better and has an impact in the team.
"It's clear that for the period that we lost them [Saka and Jesus], ideally we need some help.
Arsenal's failure to kill off games when leading has led to them dropping 12 points
Arsenal's failure to kill off games when leading has led to them dropping 12 points
"Because we were very short already, and now we are even shorter, but the team still copes with that.
"But we have to do what is right for the club."
Arteta then conceded that it's a real possibility that Arsenal fail to bring in fresh faces in news that may concern Gooners.
He stated: "That's an option, it doesn't depend on us. It doesn't depend just on Arsenal or Mikel or our will.
"It depends on the market and many other factors."
Arsenal are known to be actively looking to do business in January, with club legend David Seaman telling talkSPORT they are 'trying like mad' to sign a striker.
It is believed that RB Leipzig's Benjamin Sesko is of interest, with the Gunners making an enquiry over the £70million-rated 21-year-old.
There is also interest in Wolves' versatile forward Matheus Cunha, who can operate on either wing, or as a No.8 and No. 10.
Cunha has stalled over penning a new deal at Molineux, which has caught the attention of Arsenal ahead of a possible swoop.
Arteta was asked about the Brazilian before potentially coming up against the 25-year-old this weekend, but he remained tight-lipped.
He simply stated: "I prefer not to talk about individuals."
But with time running out, Arteta knows if he wishes to end Arsenal's 21-year wait for the league title, then the club must splash the cash before the window slams shut.
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