Ozil, 30, has had an immensely frustrating time since Unai Emerys arrival in the summer, with form and injuries keeping the German out of Arsenals starting XI in recent months.
A back spasm meant Ozil missed the Gunners 4-2 victory over Tottenham at the weekend and the playmaker is a serious doubt for the sides trip to Manchester United on Wednesday night.
Ozils absences are becoming a major concern for Emery and Wright believes the midfielder is becoming a luxury that Arsenal can no longer afford.
As good as [Henrikh] Mkhitaryan and Ozil are, in respect to what theyre earning were talking about £500,000-a-week, Wright said on BBC 5 Live Sport.
I do not believe that Arsenal can afford to be paying that sort of money without getting a return, especially when you look at what theyre trying to do at the moment.
Youre going to lose [Aaron] Ramsey as well who probably wants £200,000 so were going up to £700,000-a-week in money that were going to have to give.
Surely youve got to find three or four players that you can pay a lot of money to that will give you the output you want.
Wright questioned Ozils ability to perform on a consistent basis for Arsenal and compared the Germans output to that of Thierry Henry.
Looking back on Ozils classy display against Leicester earlier this season, Wright said: He got substituted in the next game against Palace!
The thing with him is. do you think hes someone that can adapt? Hes an unbelievable player but can he do it? I dont know if he can.
I had Arsenal fans coming over to me saying hes had 19 assists. Thierry Henry had 20 assists and 30 odd goals – and he done it twice!
Is that what we want, just assists? Is that what youre going to throw in my face? And a hat-trick against Ludogorets?