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He was taken to hospital and was ruled out for the remainder of the tournament.
"Many doctors told me that I could have lost my life and you feel very scared during those times because I would leave behind two children, a wife alone and it was a tough blow and makes you think of many things," he told ESPN in an interview.
"I think when you have children, it's more about what will happen to them."
Lozano was immediately attended to by medical staff, who placed a neck brace on the player. He suffered a deep gash over his eye and was taken to hospital to undergo tests.
"It was a tough injury but thankfully it didn't go past that," he said. "A bit more to the left or right and I could have become paralysed or lost an eye. I have the scar. It was complicated. I felt a lot of fear, but my wife was there with me to support me."
The striker scored his first goal since returning to action in Wolves' 1-0 win at Southampton last week and Lozano is delighted to see Jimenez back on the pitch.
"I'm personally very happy that he has returned because his injury was a more complicated one," he added. "It was difficult. The most important thing is health. I know he gives a lot to the national team and to the group. He is a great player and great human being."