The Italian rider slipped out on a corner with 100km left to race, and BMC Racing's head doctor Max Testa said he will likely be out of action for six weeks.
"Alberto Bettiol sustained a displaced fracture of the left clavicle, a left rib fracture, and a bruised lung. He will remain in hospital overnight and tomorrow (Monday) we will reassess his condition," Testa explained in a statement issued by the team on Sunday evening.
"Alberto will be discharged in 24-48 hours and then transfer home to Italy. He will have surgery in the next five to seven days to fixate the clavicle fracture. Unfortunately, he will miss the Giro d'Italia and will likely be back on the bike in two to three weeks with an expected return to racing in six weeks. We will continue to monitor his recovery and will have a better understanding of this post-surgery."
Bettiol was set to support Rohan Dennis at the Giro d’Italia next month, with some freedom to target stage victories in his home Grand Tour.
"I'm not feeling so good because of the pain in my left side. I cannot breathe properly because of the fractured left rib and my fractured clavicle is also painful," said Bettiol.
"The team, Valerio Piva and Max Testa, and the hospital have taken really good care of me. It could be better but it could also be worse so I'm focusing on the positives and thankful that all of my injuries will heal.
"It was a stupid crash. I didn't take any risks in the downhill but there was something on the road, maybe some oil or gravel, and my front wheel slipped out. For sure, the Giro d'Italia is out of the question which is really disappointing because as an Italian cyclist, it is the dream. We will see tomorrow morning, but I hope to be back as soon as possible."