Wiggins, who was on loan at Birmingham City, was stretchered off in the Midlands derby against Aston Villa last week.
"I've seen Rhoys and I'm devastated for him," Howe said.
"It seems serious, so he's seen a specialist and has been booked in for an operation, we have to wait for the swelling to go down on his knee first.
"I think he'll be out for the rest of the season and it should be next season before he's back, we'll give him all the support we can.
"As for the rest of the squad, we've got a couple of niggles that the squad picked up from Middlesbrough, but there's nothing else long term."
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