He was forced off after just 28 minutes of Saturday's 2-2 draw at Crawley and is now set to miss Saturday's home clash against Carlisle, although he is battling to make it back in time for another important game at Bury next Friday.
Fit-again Paul Parry replaced Wright at the weekend and now looks set to get his chance.
Shrewsbury boss Graham Turner told the club's official website: "Mark's damaged some ligaments in his knee. It doesn't look as though he will be fit for this weekend but it's not considered too bad at this stage.
"Maybe in seven to 10 days he should be okay again so he should be fit for the Christmas matches.
"Paul's needed some football. He's obviously got a lot of ability and a lot of experience. If he's back to his best then he will be a big asset coming back into it."
On-loan defender Cameron Gayle hopes to return to training later this week having missed out against Crawley altogether with a groin problem.
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- Paul Parry