The Grizzlies offered updates on the health status of both players Friday in a team release.
Adams is scheduled to undergo surgery on his right knee Tuesday. There is no timetable for his return.
Adams, a 2014 first-round pick from UCLA, has appeared in only two games this season.
The Grizzlies said Martin will be re-evaluated in 7-10 days. Martin, a 2015 first-round pick from LSU, also has played in two games for Memphis this season.
Martin injured his foot while playing for the Iowa Energy, the Grizzlies' D-League affiliate. The Grizzlies said Martin's bone bruise isn't related to his previous foot injury.