A witness at the scene of the accident said Froome had suffered an open fracture of the femur and had suffered other injuries too, notably to his elbows.
The 34-year-old British cyclist, who rides for Team INEOS, sustained a fractured femur, the team principal said, adding that he was awaiting confirmation on the specific injuries.
Team Ineos confirmed in a statement that the four-time Tour de France victor had come off his bike during a reconnaissance of the day's ride and had withdrawn from the race.
"On behalf of the team, I would like to commend the treatment he received from the emergency services and all at Roanne Hospital in assessing and stabilising him", he said. "He hit a wall", Brailsford said. We're trying to manage that and make sure he gets the best care. Riders don't usually win three-week Tours in their mid-30's and since Froome has already won all three of them, France, Italy and Spain, this could well signal the end of a fabulous career of stage-race riding.More news: Thailand - should you always celebrate scoring goals?
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"One of our big strengths on this team is coming together in hard moments, and we will ensure we do everything possible to support Chris and his family".
He went on to further Tour de France wins in 2015, 2016 and 2017, he also won the 2017 Vuelta a Espana and the 2018 Giro d'Italia, making him the greatest Grand Tour rider of his generation.
Froome was eighth in the Dauphine standings, 24 seconds behind leader Dylan Teuns of Belgium.
Team manager Dave Brailsford had earlier confirmed that Froome would miss the Tour de France following the crash.