The 28-year-old failed to recover from a cruciate knee ligament injury in time to be named in Colombia's 23-man squad for the football's premier tournament.
Despite the Monaco striker's disappointing absence, Colombia are considered as potential dark horses for the competition having finished second in South American qualifying, while they have risen to fifth in the world rankings.
However, Falcao cannot look past the trio of favourites for success in Brazil.
"My favourites for winning the World Cup are Spain, Brazil and Germany - these are the three teams that I can see lifting the trophy," he said.
Falcao - who had scored nine goals in 17 Ligue 1 appearances before his untimely injury - was tipped to be one of the stars of the World Cup.
Having been denied the opportunity to shine, he believes the usual suspects of Portugal's Cristiano Ronaldo, Argentina's Lionel Messi and Uruguay's Luis Suarez will steal the limelight.
He added: "It's difficult to predict which players in particular will shine at the World Cup, but I think the same ones as usual, Cristiano Ronaldo, Lionel Messi, Luis Suarez.
"It is difficult to say, because the World Cup is tough, it also depends on how the players arrive after a long season, you don't always approach the tournament in your best form."
