Wenger has been linked with a host of high-profile signings since the transfer window opened and has added Yaya Sanogo to the ranks.
"I believe that everybody competes on a very high level," he said. "What has changed recently is that in Europe, countries like France have bought some very talented players who would two or three years ago all have come to England. That makes the chase for talent very difficult.
"What we want is not a [big] name but a good player. The name is less important. What is important is the quality of the player. We want as many top players as we can but we have to focus on the players [already here] and develop them as well.
"In midfield you have plenty of candidates - there's a big fight in midfield. Sagna has settled in well as a centre back. We have a strong squad. We are there on the market trying to strengthen our team."