The Gunners, who head to Brighton for Saturday's FA Cup fourth-round tie, have been linked with a string of players across Europe, from Barcelona's David Villa and Borussia Dortmund defender Mats Hummels, Montpellier playmaker Younes Belhanda to West Ham's combative midfielder Mohamed Diame.
Wenger, however, insists his main concern is about maintaining performance levels on the back of their midweek 5-1 thrashing of West Ham, which kickstarted their Barclays Premier League campaign. He said: "If we perform at full potential we cannot expect any miracle from outside, we want to make things happen inside."
Wenger, speaking at Friday morning's pre-match press conference, added: "What I worry about is getting the players who have been injured back fit, to get the players who play for this club to perform at full potential.
"If someone else can strengthen our squad, we will do it of course, but we have the resources inside to do well. We have two players in every position, that should be enough, plus the young players in behind. But if we find the top-class players in any position, we never refuse to strengthen our squad."
Wenger stressed Arsenal had not lodged any formal bids with their reported targets.
He said: "We have been linked with David Villa, like Chelsea, but there's nothing concrete there. We are not on the case."
On Hummels, the Gunners boss said: "No, I can't imagine Dortmund selling their defenders in the middle of the season anyway and we have not made any approach there."
Wenger said: "We cannot come out with the names we are on. We have not approached West Ham on that."