The Gunners have struggled badly in attack with their forward ranks depleted by injury, and now find themselves 13 points off the pace in the Premier League title race after a goalless draw with Nottingham Forest.
The Champions League appears to be the last hope for silverware this season, but Arsenal must find a way past PSV in the last-16 without Saka and Martinelli.
Arsenal travel to face the Dutch side on March 4 and host them a week later, before welcoming Chelsea to the Emirates Stadium on March 16.
Mikel Arteta does not expect Arsenal to have Bukayo Saka and Gabriel Martinelli back until after next month’s international break.