Veteran midfielder feels that his former team-mate could have continued playing for the Red Devils, but insists that he would never attempt to change the decision
Scholes announced his retirement at the end of last season, following a career spent completely at the Old Trafford club, where he won a plethora of honours and plaudits from some of the sport's greatest ever players.
Giggs feels that the Red Devils will "never" be able to get another player like him.
In an interview with MUTV, he said: "Will you get another Paul Scholes?
"No. Never. Not in a million years.
"Getting someone in like-for-like is impossible. But the club has to go on. We have to evolve. That is the Manchester United way."
The 37-year-old has himself had an exceptionally long career at Old Trafford, and feels his former team-mate could have continued playing.
"You want to perform at a high level because of the expectations you have for yourself," said Giggs. "If you drop slightly below, you feel you are not contributing to the team.
"I told him he was controlling most of the games he played in, that is what he was brilliant at, but the longer it went on, I got the feeling he was going to call it a day. I would never try and change his mind, but I wish he had carried on because he could have done it."