The Spaniard has scored 21 goals during a stunning first season in English football but he was withdrawn during the second half against City with a hamstring problem.
While Laudrup was not sure if the forward had suffered a tear, it will be enough to end his involvement this campaign.
He said: "He has a hamstring problem. I am not sure if he has torn it but, even if it is less than that, this will be his last game of the season."
Swansea have now failed to score in their last three fixtures, and have not tasted victory in seven.
But Laudrup and City boss Roberto Mancini were both aggrieved at referee Mike Jones' refusal to award what appeared to be two clear penalties.
In the first half Michu was clattered by Matija Nastasic having flicked the ball beyond the defender, only for Cheshire official Jones to wave away appeals.
City were also furious after Jones refused to point to the spot when Edin Dzeko went over Chico Flores' trailing leg just past the hour.
Swansea have not been awarded a Premier League penalty this season and Laudrup said of their appeal: "I thought from the bench it was a penalty, and after seeing it again I think even more so.
"We have had 35 games in the league with no penalties, maybe we will get one next year."
But Laudrup was pleased with a point, even if it extended Swansea's winless run.
"I have to be pleased with a point, especially if you analyse the game," he said.
"In the first 35 minutes we played some very good football and created chances.
"But if you don't score in your good moments there is always a danger the other team will come into the game, especially a side like Manchester City, who can punish you.
"They had two good chances at the end of the first half, and had a huge chance through Dzeko at the end of the game, so in the end I am pleased with a point against the champions from last season."