The 22-year-old joined up with his new teammates after the World Cup, but has yet to feature for the Chiefs.
"We have won two games out of three in the Premiership and he's not been here very long," Baxter told BBC Sport.
"He, like a number of other very good players here at Exeter, will have to be patient and when their chance comes they'll have to play very well if they want to stay in the team."
Campagnaro, who has won 18 caps for his country and featured in all four of their games at this year's World Cup, agreed a move to the Chiefs in Janaury from Pro12 side Benetton Treviso.
He has been training with the Premiership club for the past three weeks.
"It's hard for me to say how far away he is, we don't know what injuries are going to happen, we don't know the form of the team, we don't know how our centres are going to play this weekend," added Baxter.
"He could be very close or he could have to be patient for a while, but the A League's not more than two or three weeks away now.
"All the players that haven't played so far will feature in the A League. That will give them an opportunity to play. They may well get an opportunity before then depending on other circumstances."

"Using horse-driven carriages only for joyrides solely for human pleasure is an avoidable activity," the order said.
The court agreed with animal rights groups that the practice was cruel.
Reports say that around 700 families depend on Victoria carriages for their livelihood.
Monday's court order came on a petition filed by animals rights groups which said the horses were often malnourished, denied adequate rest and care.
The Bombay high court in the city of Mumbai ordered that all stables where these horses are kept must be closed down and  directed the authorities to come up with a scheme to rehabilitate those involved in the trade.
Styled on open carriages used during Queen Victoria's times, these horse-drawn carriages have been seen on Mumbai's streets since British times and a ride on them has been one of Mumbai's most-popular tourist attractions for decades.
The drivers of these carriages say that "Victorias are a key part of Mumbai's cultural image" and some of them say they are sceptical about the government's rehabilitation plans.
Usmaan, who is 60, has been working with a horse-drawn carriage since he was 12, says it is going to be difficult for him to adapt to a new job and that he feels like his "hands have been cut off".
The court has also ordered that all horses should be rehabilitated at a care centre.
"The government shall also formulate a rehabilitation scheme for the horses. If any reputed animal welfare organisation comes forward to take care of these horses, then the state government is free to consider the same" the Hindustan Times quotes the court as saying.

He beat off competition from David's Bowie's final album Blackstar, Laura Mvula, Michael Kiwanuka, The 1975 and Radiohead.
"I'm just so thankful. I've been trying to do this music stuff and work it out for so long... I was like 'let's do it for ourselves'" he said.
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Italy centre Michele Campagnaro will have to wait to make his Exeter debut.
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A court in India has ruled that Mumbai's famous horse-drawn carriages, popularly known as "Victorias", are "illegal" and must go off the city streets in a year.
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Grime artist Skepta has won this year's Hyundai Mercury Prize for his debut album Konnichiwa.