The Gunners have found themselves short at full-back at times this season, with Andre Santos, Bacary Sagna, Kieran Gibbs and Carl Jenkinson, as well as recent stand-in full-backs Thomas Vermaelen and Francis Coquelin, all currently unavailable for selection.
Wenger is hopeful that some of these players will be available sooner rather than later, but indicated that he could still add to his squad during the transfer window.
"At the moment we are exploring potential situations we can take advantage of but there is nothing concrete," the 62-year-old manager told Arsenal's official website.
"All over the world we have our eyes and we look for good [players]."
Wenger seems to be leaning towards a loan move, but went on to explain the problems with signing players on loan in January.
"You might take a player who doesn't play at all somewhere, who is not necessarily fit quicker than a player who is injured. Or you take a young, potential player who has not made it somewhere," he added.
"A player who plays anywhere in the world at the moment will not be available on loan, it doesn't exist. It can only be a guy who doesn't play or a promising player who has not yet made it completely who you could take advantage of.
"That is why it is not an easy situation. You have to consider that a guy who has not played for two months is not necessarily back quicker than Bacary Sagna or another player who is just coming back from injury."
Arsenal are currently fifth in the Premier League and face a trip to Swansea in their next league match.