Mikel Arteta's side will only have one focus for the remainder of the campaign, and that is to qualify for next season's Champions League, with the Gunners - who failed to qualify for Europe this term - out of both domestic cups.
But, they can only challenge for a top-four finish if they rediscover their scoring touch, and it would certainly help if they keep all 11 players on the pitch.
Having ended 2021 in impressive and greatly improved form, Arsenal have started the new year with a whimper.
Five straight wins in all competitions saw the Gunners sit fourth in the Premier League table after 19 games, and in the semi-final of the Carabao Cup.
Furthermore, in that run, goals were flying in left, right and centre with ten different scorers hitting the back of the net on 19 occasions.
However, that run has come to an abrupt end and defeats to Liverpool in the Carabao Cup and Nottingham Forest in the FA Cup have meant that Arsenal will finish the season without a trophy.
A big factor in their poor run has been their lack of discipline, with Arsenal earning more red cards than goals scored so far this year.
Against Premier League leaders Man City, for example, the Gunners fell apart in the space of a few minutes.
They conceded a penalty and then had Brazilian centre-back, Gabriel, sent off for two needless fouls as they went from a 1-0 lead to losing the game 2-1.
Given that many players in Arteta's side are young and relatively inexperienced, the club could be excused for not showing greater control in matches.
However, the red cards issued have been to the club's more senior players, with Granit Xhaka and Thomas Partey also given their marching orders in recent weeks.
The dismissals and subsequent suspensions of the club's first-choice midfield pair has not helped anything, and is potentially a big factor why the club have gone from 19 goals in five games to one in that same run of matches.
Furthermore, comments from the Swiss star Xhaka will do little to appease Gunners supporters, after declaring that he 'can't change' his style of play.
Xhaka was sent off against Liverpool in the first-leg of their Carabao Cup semi-final after taking down Diogo Jota as the last man.
"This is who I am. I can't change myself from today to tomorrow. Of course, I need to improve and I know I need to improve," he told Sky Sports.
With that said, the need for a striker is just as urgent given the club's current situation.
Former captain Pierre-Emerick Aubameyang has been frozen out by Arteta, and vice skipper Alexandre Lacazette looks set to leave the Emirates Stadium in the summer upon the expiration of his contract.
Many names have been linked to the club over the course of the January transfer window and continuing to be so, but crucially there is no new striker in at the north London club.
Fiorentina's prolific forward Dusan Vlahovic was being courted by the Gunners for a while, but they now look set to lose out on him with Juventus closing in on a deal for the Serbian.
However, options are still available for Arteta which include Real Sociedad striker Alexander Isak and Everton's Dominic Calvert-Lewin.
Isak, 22, had been linked with the club at the beginning of the January transfer window which could now intensify with Vlahovic hopes fading.
The Sweden international was a huge hit for Sociedad last season, scoring 17 goals in 34 LaLiga appearances.
Whilst he hasn't fared as well in this campaign, with eight goals in 25 appearances across all competitions, his age, potential and comparisons to legendary striker Zlatan Ibrahimovic could make him a superb signing.
Furthermore, given Arsenal's policy of being young talent, the Swede would fit their profile.
Should the club decide to look domestically, Everton's Calvert-Lewin is also being pursued by the Gunners.
Similarly to Isak, the 24-year-old enjoyed a superb 2020/21 season with 21 goals in 39 games for the Toffees, form which helped him secure a place in Gareth Southgate's squad for the European Championships.
Unfortunately he has been sidelined with injury for much of this season, but did start it on fire with three goals in as many games.
Given his club's current predicament, a player of Calvert-Lewin's ability deserves to be competing at the top end of the table.
One thing for certain is that Arsenal will be in the market for more players, and are in need of them if they are to become the force that they once were under Arsene Wenger.