The incident happened near Kilmarnock on Monday and manager John McGlynn has been to visit the injured player.
"He was comfortable when I saw him at 5pm," McGlynn told BBC Scotland. "It's been a traumatic time but it looks like he will make a full recovery."
Campbell will no doubt be sidelined for a while and will miss Tuesday's Scottish Cup fifth round replay at Aberdeen on Tuesday.
Speaking to the club website, Rovers chairman Dave Somerville said: "It was with a high degree of shock that we heard of Mark's accident.
"It is an example of the camaraderie that John McGlynn has engendered at this club that he was with Mark in hospital as soon as he possibly could and we are all relieved that Sparky is showing no signs of lasting damage.
"It is often said that there are times when football doesn't really matter and this is one of those occasions.
"Mark is not only a good footballer but a good man and I am sure everyone associated with the club would like to join me in wishing him well for a speedy recovery."
Source: BBC Sport
Source: BBC Sport