Pedrosa missed the last two races as well since he underwent surgery to repair a lingering arm pump problem.
Pedrosa recently tested out his forearm on a Supermoto bike, but admitted that it "still didn't feel 100%".
"Even though at first it felt OK, after riding my forearm still didn't feel 100%," he told reporters. "I know that if I do a whole race weekend it will be much worse, and the last thing I want is to create another big problem."
However, Pedrosa hinted that he may be returning when the MotoGP heads to Le Mans in France on May 17.
"It has been a very difficult decision to make, but I think the best is to wait a while longer, go ahead with the rehabilitation and be back [for the next race] in Le Mans," he said.