He suffered a pulmonary contusion, jaw fracture and a fractured dorsal vertebra after he was thrown off his bike and hit the barrier.
"GASGAS Factory Racing Tech3 are down to a single rider representation for MotoGP's kick-off Grand Prix in Portugal but thankfully Pol Espargaro is in full recovery mode after his crash," the team said in a statement.
"After treatment at the track Pol was taken to the hospital in Faro for more checks and will be kept in observation for the weekend. He hopes to be on the way home early next week."
The team will have Augusto Fernandez (25) as their sole rider with qualifying and the season's first sprint scheduled for Saturday followed by the race on Sunday.
"Be brave, as always, in two days you will be on fire! I love you infinitely," Espargaro's brother Aleix, who rides for the Aprilia Racing team, said on Instagram.
