Chelsea midfielder Lampard insists there is still enough talent in the England squad to cope with a number of defensive setbacks, despite Ferdinand's withdrawal.
Ferdinand pulled out of the qualifiers against San Marino and Montenegro in order to follow a pre-planned training and medical programme to help him manage a long-standing back problem.
Lampard is confident England will be able to cope without Ferdinand for the two games.
"These are the moments when you need a strong squad," he told Sky Sports News.
"It does happen in a funny way that you lose three or four players from the same position and that would test any squad, but we are very fortunate that we have got some very good young players and it will be time for them to stand up, and I am sure they can because they do it regularly."
Lampard is unsure of whether or not the Manchester United centre-half will play for England again, but he does believe his former West Ham teammate will continue to play at a high standard.
"He is a top drawer player and he is certainly not finished," Lampard explained. "I don't know the ins and outs of his future and where it is going, but the way he is playing at the minute, he is one of the top defenders in the Premier League for sure.
England are currently second in Group H, trailing leaders Montenegro by two points, and Lampard believes it is important for England to take six points to set up the rest of the campaign.
"If we are disciplined and go about our job in the right way, then with the quality we have in our team with those attacking players you'd want to get the right result," he added.
"We have to beat San Marino and then, with Montenegro being top of the group and us being in second place, we are aware of how tough that is out there.
"When you have a six-month break afterwards, you want to go into that looking comfortable so it is imperative to get the right result in both games."