Wright was carrying a right side strain since arriving in Bangladesh and was ruled out Saturday morning -- before England's Group 1 opener against New Zealand.
"The ICC has confirmed that the Event Technical Committee of the ICC World Twenty20 Bangladesh 2014 has approved Craig Kieswetter as a replacement player for Luke Wright in the England men's squad for the tournament, which runs until April 6," an ICC media statement said.
"Wright has a right side strain and, therefore, has been ruled out of the tournament."
This is the third injury problem to hit the original 15-member English squad. Earlier, Joe Root and Ben Stokes were ruled out of the tournament due to a broken thumb and a broken wrist.
Kieswetter is expected to arrive in Chittagong Monday and should be available for the three remaining Super 10 matches.