The 22-year-old, who joined Arrow McLaren over the winter, underwent surgery on Tuesday afternoon to repair ligaments in his dislocated left wrist, the team confirmed on Wednesday.
The recovery timetable is estimated at six weeks once the stitches are removed on 22 February.
With the season starting in four weeks on 8-10 March on the Streets of St. Petersburg, it has forced Arrow McLaren to evaluate reserve driver options for its #6 Chevrolet-powered entry, which it will announce in due course.
“It’s just heartbreaking for David, of course, and our entire team,” said team principal Gavin Ward.
“We’ve seen how much work he and this entire group has put into preparing for his first season in papaya.
Gavin Ward, David Malukas, Zak Brown at Arrow McLaren press conference
Photo by: Michael L. Levitt / Motorsport Images
“But it’s often how we recover from setbacks and adversity that defines us and our character. We will do everything we can to support David in his recovery and when he’s back on track the success will be all the sweeter.”
After scoring two podiums in his opening 34 career starts with Dale Coyne Racing with HMD Motorsports, Malukas was brought in by Arrow McLaren to replace Felix Rosenqvist and complete a driver line-up that also features Pato O’Ward and Alexander Rossi.
“I’m gutted this happened, especially so close to the season,” Malukas said.
“I feel horrible for the team who have worked so hard to prepare for our first season together. I will be working hard to get back on track as soon as I can. I can’t wait to go racing with the team in papaya.”