The Pakistan Test star was ruled out of their Championship game against Somerset at Taunton and looks likely to miss next week's home fixture with high-flying Kent too.
That would mean Wasim has played in just one of the opening six matches, dealing Lancashire's hopes of mounting a serious title challenge a potentially fatal blow.
And nobody is more disappointed than Wasim himself.
Taunton was the scene of his Lancashire captaincy debut in 1995, when he led his adopted county to victory in the first of three inspirational performances.
But today he was facing more treatment on his problem bowling shoulder in Manchester and said: ``It is one of the lowest points of my career. I am desperately unhappy about the situation, but at the moment there is nothing I can do except follow the instructions of the specialists.
``They have told me that my shoulder has weakened and that it needs strengthening, otherwise I could risk permanent damage which could affect me for the rest of my life. ``Obviously I can't take any risks. Neither can the club and we are all working hard to put things right as soon as possible. I know that the members and fans must be extremely disappointed, and I would like to assure them that I can't wait to get bowling again.
``I hate not being able to play. It leaves me bored and frustrated. I want to be out there with the rest of the boys.''
Wasim hoped to return in the last match against Leicester, but knew he wasn't ready after bowling a single ball in the Grace Road nets. He headed straight for Nottingham where a shoulder specialist discovered that there is no muscle tear, but told Wasim that he must build up the area around his shoulder with a programme of exercises.
Lancashire hope that Wasim may be able to play in the Axa Life game against Somerset on Sunday, but it is looking increasingly unlikely that he will return in the Championship before the match against Glamorgan at Liverpool on June 18.