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Aguero has been ruled out of action for at least three months after suffering breathing difficulties during Saturday's 1-1 draw with Alaves.
The 33-year-old has undergone a cardiological examination and been diagnosed with cardiac arrhythmia - a heart rhythm rate disorder.
Spanish publication SPORT per Daily Mirror claim the club are now searching for a new striker with Martin Braithwaite and Ousmane Dembele also out.
Three of those are currently in the Premier League in the form of Edinson Cavani, Raheem Sterling and Alexandre Lacazette.
Cavani signed a one-year extension with Manchester United in the summer and is expected to leave when it expires next summer.
The 34-year-old was linked with a move to Barcelona on deadline day but decided to stay at Old Trafford.
Lacazette is also out of contract in 2022 and it means Barcelona could snap either of them up for a reduced fee.
Sterling has started just six games all season for Manchester City and his time as a regular under Pep Guardiola could be coming to an end.
The England international would likely be the most expensive of the bunch, having a few years left on his deal.
A fourth player has also been named who is more of a wild card.
Karim Adeyemi has scored 14 goals in 21 games for RB Salzburg this campaign and has impressed in the Champions League.
Other clubs said to be interested in the 19-year-old are Real Madrid, Liverpool and Borussia Dortmund.
Barcelona are hoping to confirm club legend Xavi as their manager in the coming days after sacking Ronald Koeman.
Spanish publication El Nacional claims Xavi himself has drawn up his own shortlist of signings.
That list includes Paul Pogba, Erling Haaland, Dani Olmo and Jules Kounde... Xavi isn't setting his sights high then.
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