The 28-year-old Italian was involved in an accident on a training ride along the River Clyde’s bike path, breaking his left scaphoid and right collarbone.
It took place nearby the hotel where the Italian team was staying close to Glasgow’s Exhibition Centre.
He was scheduled to compete in the points race at the Sir Chris Hoy velodrome on Wednesday, but he will now travel back to Italy.
Consonni, who competed for Italy in team pursuit qualifying before his teammates went on to win silver in the finals, was with Francesco Lamon, although his compatriot was unharmed.
Francesco and I stepped outside and saw a slender cycle lane with a blind left half-turn. A biker on an e-bike was coming from the opposite side, carrying luggage and carrying quite a bit of weight.
“I turned to the left in an attempt to get away from him, but from what I recall, his helmet struck me on the right shoulder. According to certain x-rays I took, my left scaphoid is broken and my collarbone has a small chip.