"I've been receiving treatment, but it hasn't improved enough to play," Woods said in a post on Twitter. "My lower back is fine, and I have no long-term concerns, and I hope to be ready for The Players."
Woods did not say how he suffered the neck strain but there was nothing about his play at the WGC-Mexico Championship, where he tied for 10th eight days ago, to suggest he was not healthy.
In his only other starts this year, Woods finished in a share of 20th place at the Farmers Insurance Open in late January followed by a T15 at the Genesis Open in mid-February.
The injury is the first setback for Woods since he returned to regularly competing on the PGA Tour in January 2018, which marked the start of a remarkable comeback campaign he capped with a win in the Tour Championship season finale.
While the injury does appear to be anything serious it could garner more attention if he finds himself unable to tee it up at TPC Sawgrass next week for the PGA Tour's flagship event, which is widely regarded as the unofficial fifth major.
Woods, who last won the Arnold Palmer Invitational in 2013, made a run at Bay Hill last year but finished five shots behind winner Rory McIlroy in a share of fifth place after his late charge fizzled with a pair of bogeys at the 16th and 17th holes.
"I'd like to send my regrets to the Palmer family and the Orlando fans," wrote Woods. "Its connection to Arnold makes it one of my favourite tournaments and I'm disappointed to miss it."
(Reporting by Frank Pingue in Toronto; editing by Ken Ferris)
