Vlaeminck was hurt while attempting to stop a boundary in Australia's nine-wicket win over Pakistan on Friday, the latest in a series of injury setbacks for the 25-year-old.
She was playing her first World Cup match since 2018 and only the second of her career. Vlaeminck has twice undergone ACL reconstructions and also been slowed by stress fractures to her foot and two dislocations of her left shoulder.
This time the injury came to her bowling shoulder.
Graham, a right-arm seam bowler, will be available for Australia's final group game against India later on Sunday and the knockout stages.
Six-time champions Australia have won all three of their games so far in the UAE in their quest for a fourth successive title.
However they are sweating on the fitness of captain Alyssa Healy, who retired hurt while batting against Pakistan because of an injury to her right foot.
