If Everton lose at home to title-chasing Manchester City on Saturday, Arsenal will be assured of finishing fourth in the Premier League before their home match against West Bromwich Albion even kicks off on Sunday.
With two matches left Arsenal are four points ahead of Everton who would have to win their final two games and hope Arsenal do no better than get one point from their last two to stop Wenger's team finishing ahead of them.
While the chance of another season of Champions League football next season is gratifying, Arsenal fell away in the title race after leading the table, apart from one week over Christmas, from the end of September until mid-January.
"When we came out of Christmas we were in a strong position, and what you want after Christmas is to have your strongest players available for February, March and April," Wenger told reporters on Friday.
"But we had too many injuries. You can have one or two, but when you have too many injuries you always have to play the same players and that is detrimental to the efficiency of the group.
"The regret we have is that too many players were out at the same time between Christmas and April."
Arsenal's form began to waiver after they lost 5-1 at Liverpool on 8
February, the start of a run in which they won only two league games out
of nine.
Their last three matches have produced wins over West Ham United, FA Cup
final opponents Hull City and Newcastle United and barring the unlikely
prospect of defeats to lowly West Brom and relegation-threatened
Norwich City, Arsenal will finish fourth for the third time in the last
three seasons.
Wenger confirmed that England midfielder Jack Wilshere is nearing a
return from the ankle injury that threatened his World Cup hopes
although he will not be fit to play on Sunday.
They will also be without left-back Kieran Gibbs, while Bacary Sagna,
who looks certain to leave Arsenal at the end of the season, is also an
injury doubt.