Fernandez, last year's Moto2 runner-up, has endured a tough start to his rookie campaign with KTM and Tech3 in MotoGP.
The young Spaniard has failed to score any points, his best result a 16th in Argentina, while his best qualifying has been 20th.
His year has gone from bad to worse at Portimao, with Tech3 announcing that he will not start today's 25-lap fifth round of the 2022 campaign.
Fernandez was one of several riders to crash during the wet-to-dry Q1 at Portimao, with the Tech3 rider hitting his hand heavily in the spill and needed checks in the medical centre.
While he has no broken bones, he has been ruled out of the race due to the excessive pain in his right hand.
A brief statement from Tech3 read: "Following his crash during Q1 yesterday, Raul Fernandez went to the medical centre for further examination after feeling pain on his right hand.
"This morning, the decision was made to not race at the Portuguese GP, although nothing is broken. The goal is to be at Jerez."
MotoGP's next round takes place in just seven days' time at the Spanish Grand Prix.
Ducati's Bagnaia cleared to race after heavy Q1 crash
In more positive news, Ducati confirmed this morning that Francesco Bagnaia will race today after his heavy qualifying crash.
The 2022 Algarve GP winner at Portimao was launched from his Ducati at the start of Q1 when he took an early gamble on slicks when the track was still wet in places.
Bagnaia appeared to bang his shoulder heavily and was taken to a local hospital for checks, but has escaped injury.
He will start Sunday's race from the back of the grid having failed to complete a lap in qualifying.
"Pecco Bagnaia has been declared fit to race," a brief statement from Ducati read.
"He had a good night's sleep and despite still feeling a bit of pain, he is ready to join the riders on track for warm-up and the race."
Reigning world champion Fabio Quartararo led the warm-up session for Yamaha, while Bagnaia was 12th on his return.
Pramac's Jorge Martin, who will start from 13th, crashed at Turn 15.
