The Uruguayan forward was a revelation at Anfield last season scoring 31 league goals in 33 appearances and winning both the PFA and Football Writers' Player of the Year awards.
Barcelona paid Liverpool a reported fee Â£75m to secure the striker's services and Brendan Rodgers has taken advantage of the influx of cash by bringing in nine new players, with Italian forward Mario Balotelli becoming the latest player to sign for the club on Monday.
Gerrard acknowledges the team will miss Suarez but is confident the overall depth which has been added to the squad will make the club stronger as a whole.
"There is no doubt it we are going to miss a player like Luis Suarez," he said. "He is a world-class player.
"But what the manager is done is he has strengthened in other areas and we have also recently signed Mario Balotelli.
"Hopefully the new signings along with everyone who has been here for a long time can help soften the blow of losing Luis and we can show everyone that there is life after him and we can be successful without him."