Jack Wilshere says it was "tough to watch" Arsenal's title challenge crumble this season and that the Gunners must get more clinical in front of goal.
Wilshere has made two substitute appearances for Arsenal in recent weeks since coming back from a fractured ankle that ruled him out at the start of the campaign, by which point the team's title chances had already disappeared.
Arsenal were top of the league in January but have had a disappointing second-half of the campaign. They still have a small chance of catching Tottenham in second place, but failed to prevent Leicester running away with the league title.
"I was obviously watching as a fan for most of the year, so it was tough to watch," Wilshere told the Arsenal's official website, adding that his experience means he can understand why supporters are so disappointed.
"I understand more than anyone it's hard. Even myself, with Chelsea and United not at their best, I thought 'this is our year.' Unfortunately it hasn't worked out.
"You have to give credit to Leicester... They all work as a team, and I think that's something we can pick up on and take into next season."
Arsenal top the league when it comes to possession and passing statistics but have struggled to create clear-cut scoring chances in 2016.
The team's forwards have also faltered, with Olivier Giroud ending a 15-game scoreless run in the league with his goal at Manchester City last weekend.
Meanwhile, the team's star playmaker, Mesut Ozil, had 16 league assists by the New Year but has only added two in 2016.
"There are a lot of chances we create with the likes of Ozil, [Alexis] Sanchez and [Danny] Welbeck, we just have to be a bit more clinical," Wilshere said.
"With us, we we start quickly in the first 20 minutes and have chances but we need to make them count."
But despite ending the season without a trophy after two straight FA Cup victories, Wilshere insisted that the team is heading in the right direction.
"We put up a big challenge this year, and OK it didn't work out, but after we beat Leicester at home we thought this was our year and we have to push on," the midfielder said.
"Unfortunately we didn't, but we put up more of a fight than previous years."