The Italian crashed in Valkenburg and an operation is not required as first expected.
Pinotti, who won the final time trial at the Giro d'Italia, will have a new assessment in two to three weeks.
Pinotti said: "I take this as good news because surgery is always something you don't want to go through unless it's absolutely necessary."
"I was on track to medal, so the crash left me speechless and extremely upset," he added.
"I can only blame myself for this mistake. I was finalising a month's work of the entire staff and team, which, like me, deserved this accomplishment.
"Now two days have passed and the disappointment has been replaced by re-focus on the healing process instead of regrets or negative thoughts."
Pinotti will now miss the Giro di Lombardia and the Tour of China plus the Chrono des Nations time trial.