"(There could be) one or two possible comebacks, maybe a very slight chance for Sanchez to be in the squad again but it's too early to be sure," Wenger told reporters on Thursday.
"He is running but not participating in full training. I believe it's normal for him to be keen to play but he respects all the decisions I make."
Arsenal, who are second in the league table, will hope to open a four-point gap between themselves and third-placed Manchester City on Monday and Wenger acknowledged it will not be easy, but has backed his side to rise to the occasion.
City could also be boosted by the return of Sergio Aguero from injury.
"It (a win) will boost our chances to be at the top. City are a threat. You look at their individual quality and they are in it (the title race). We will need a top, top performance against them on Monday," the 66-year-old Frenchman said.
With seven players still on the sidelines, Wenger hinted the injury crisis at the club may force him to dip into the January transfer market.
"We are open minded and not the only ones that can decide on the speed of transfers. We have to adapt to availabilities but we are open to do something because we are short," he said.
(Reporting by Shravanth Vijayakumar in Bengaluru; editing by Martyn Herman)
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