Villas-Boas made Damiao his top target last month but, despite a last-ditch attempt on Thursday, Spurs failed to land the 23-year-old before the 11pm transfer deadline.
Missing out on Damiao means Jermain Defoe and Emmanuel Adebayor will be Spurs' only recognised senior strikers for the rest of the campaign, and the latter may not be available for up to another two weeks as he is away on Togo duty at the African Nations Cup.
Defoe is currently going through a bad run, scoring just once in his last nine matches, and is also struggling with a pelvic problem.
Although his form has improved of late, many fans are not convinced that Clint Dempsey is capable of playing up front, but Villas-Boas believes he has enough attacking talent in his squad to rival the likes of Chelsea, Arsenal and Everton in the fight for a top-four finish in the Barclays Premier League.
"I am not sure if I agree with the idea (that Spurs are lacking up front)," the Tottenham manager told a press conference.
"We have scored goals from different players this season. It's part of our team's characteristics.
"Obviously Jermain is the leading guy - he has been lethal this season. I'm not sure (failing to sign Damiao) is going to be the decisive factor
"We are happy with our strikers' efficiency at the moment and what the other players do for the team.
"(Lewis) Holtby also has that ability. (Gylfi) Sigurdsson hasn't found that ability from last year, but if he gets that finishing touch, he's one more that can add in terms of extra goalscoring ability.
"We have different options and you saw Gareth Bale the other day playing through the middle. We can adapt."
Chairman Daniel Levy's famed 11th-hour acquisition of players like Rafael van der Vaart and Dempsey have made him a cult figure among some fans, but his failure to land Damiao, and Joao Moutinho in August, on deadline day deals has left some supporters critical of the approach.
But Villas-Boas, who signed only Zeki Fryers and Holtby last month, on Friday defended the club's approach.
"Things were very, very (close), almost to the point of being agreed," the Portuguese said.
"I think it's a question of a little more time. That would have helped.
"We've approached the clubs from the beginning. We approached Schalke (over Holtby) from the beginning, for example, of this January window.
"It was only when things start making more sense that you are able to conclude deals.
"You just have to be sensible. I've said in our conversations that if (the Damiao bid) was going to go out of proportion, we would step out of it.
"We have made it public before that he is a player that we chase, but we couldn't agree on the full conditions so we've moved on."