The Wales international’s situation at the north London side is far from certain after he entered into the final 12 months of his current deal at Arsenal.
Ramsey’s discussions with the Premier League side have broken down over the past few months to raise doubts about his long-term future at the Emirates Stadium.
The 27-year-old will leave Arsenal at the end of the season when his deal expires unless the situation changes.
Chelsea FC and Liverpool FC have both been linked with a potential swoop to sign the Wales international over the past few months.
The Blues signed France international Olivier Giroud from Arsenal in the January transfer window, while Liverpool FC recruited Alex Oxlade-Chamberlain in a £40m deal from the Gunners last summer.
Ramsey has been a key player under Unai Emery so far after the Spanish head coach replaced Arsene Wenger at the end of the 2017-18 Premier League season.
Like the Welsh star, Iwobi has also impressed with some encouraging performances after a return of one goal and one assist in five games in the English top flight so far.
Former Arsenal striker Wright believes Iwobi would be capable of replacing Ramsey in the Gunners team should the former Cardiff City man leave next summer.
“Iwobi’s form has helped the situation,” Wright told BBC Radio 5 Live. “He is having an impact at the moment.
“If Ramsey does leave and Iwobi can continue his consistent form, Arsenal fans would be happy with that.”
Arsenal will take on Leicester City in their next Premier League game at The Emirates in pursuit of a seventh successive win.
The Gunners are two points behind defending champions Manchester City, Chelsea FC and Liverpool FC in the Premier League table.
The north London side have beaten Cardiff City, Newcastle United, West Ham United, Everton, Watford and Fulham to climb up the Premier League.
Emery previously won the Ligue 1 title with Paris Saint-Germain, while the Gunners manager won the Europa League three times with Sevilla.
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