The Gunners were beaten 1-0 at home by the Foxes as Jamie Vardy came off the bench to score a late winner on a demoralising evening for the north London outfit.
After dominating the first half, David Luiz had to be replaced on 49 minutes, with Shkodran Mustafi coming on, and Saka came off for Nicolas Pepe on 65 minutes as he looked to be struggling.
Arteta was not certain what the problem was with Saka after the game and plans to assess Luiz ahead of the crunch Premier League clash with Manchester United on Sunday.
‘I don’t know,’ the Spanish boss said of the injured pair. ‘We’ve lost a few players in the last week or so.
‘David had a muscular problem and he couldn’t carry on – we’ll have to assess him in the next 48 hours.’
Calum Chambers, Rob Holding and Pablo Mari are all out and not set to return for at least three more weeks.
Willian also missed the defeat to Leicester with a calf problem and Gabriel Martinelli remains out with a serious knee injury.
Arsenal have a busy period ahead of them, with Europa League action against Dundalk at the Emirates on Thursday before the weekend trip to Old Trafford is the first of six matches in November.
Arteta was frustrated with the defeat to Leicester, especially as he felt an Alexandre Lacazette goal that was disallowed for offside in the first half should have stood.
‘To be fair I was really pleased with the first half, the way we pressed, the aggression we showed against a team that are very capable of breaking that pressure and creating chances against you,’ he said.
‘We were very effective against that, we were on top of the game, we restricted to nothing, we had the right opportunities to attack good space and create some chances.
‘We scored a goal as well on a set piece, I don’t know how it was disallowed. Then after that in the second half against a really low block you have to be patient and not make any error because this is what they are waiting for: they just need a moment to catch you on the break or with some space and we made the decision when there is no pressure on the ball to try to attack that space and they scored a good goal.
‘After it was difficult in the last 15 minutes, even with three strikers on the pitch we didn’t manage to have enough continuity in our play and we have too many free kicks away, we didn’t put the ball as often as we could in the box.
‘But credit to them for what they have done but I think it is a very harsh result for us considering what happened in the game.’