LaLiga leaders Barca have been linked to Lautaro Martinez, Erling Haaland and Carlos Vela as they seek to strengthen Ernesto Valverde's attacking options.
The club failed to bring Neymar back from Paris Saint-Germain during the close season, leaving the squad light on competition for natural centre-forward Suarez.
The 32-year-old has scored six goals in eight LaLiga starts this season but knows he will not always be able to perform at the highest level.
"There will come a time when my age will not allow me to live up to what Barcelona needs to compete," Suarez told Uruguayan publication Ovacion.
"But as long as I can, as long as I have the strength, giving me competition is much better.
"That they are looking for or want to bring another number nine is nothing strange, it is the reality of football.
"It will be better for me and better for the club, because it will feed competition, and it will be better for the future because the club can prepare a player with the help of all the great players at Barcelona."
Suarez joined Barca from Liverpool in 2014 and is now in his sixth season at Camp Nou.
The former Ajax forward plans to continue his career until at least the 2022 World Cup, which would be his fourth appearance at the tournament.
"I hope so," he said. "I am really convinced of that, yes."
Suarez is part of the Uruguay squad for the upcoming international friendlies against Hungary (November 15) and Argentina (November 18), his first involvement with the national team since the Copa America in June.