The 24-year-old spent three nights in hospital after bruising his lungs in a nasty collision with Cats forward Tom Hawkins in the Pies' three-point loss.
He saw specialist Dr Aubrey Almeida at Epworth Hospital on Wednesday and was told his lung capacity had returned to normal 12 days after the incident.
Toovey will face his first set of contact drills since the accident on Thursday but is hopeful of being named in the Pies' squad later that afternoon.
"I'll see how I go and what the match committee thinks but that's what I'm hoping," he told afl.com.au.
The collision saw Toovey prone on the MCG's surface for several minutes as medical staff checked for face and neck injuries.
He was carried off wearing a neck brace as a precaution, but was more concerned about the blood that appeared when his breath returned.
"It was like the ultimate winding. I knew I was in a bit of trouble," Toovey said.
"It was a bit scary. When all the doctors came out on the ground they were all worried about my face and neck, and I could feel myself I'd copped it all in the chest and my face was fine.
"They were pretty relieved when I could tell them my face was okay."
Toovey has perfect recall of what happened, down to the moment he realised there was nothing he could do to avoid Hawkins' 105kg frame.
"I remember running back … I thought I had about another five or 10m before anyone was there, and when I looked right as I got hit, he was probably 30cm from me and I didn't have time to move around," he said.
"I just saw it coming and I thought, 'I have no chance to get away from this'."
Toovey knows how lucky he was to have avoided serious injury such as broken bones or a punctured lung that could have potentially kept him out of the game for much longer.
In the end, the doctors who treated him at Epworth the night he was admitted said his young "flexible" bones had prevented that.
Toovey also says he won't change the way he plays or hesitate when the time comes for him to put his body on the line again - but he will make sure a hulking full-forward isn't in the way next time it happens.
"I think I'll just have a better look when I'm running back," he said.
"I don't think it will affect me at all. You can run back like that 10 times and not get hit at all, and then some days you can go back and get hit.
"It's just how the game is, so I'll just keep playing the way I have been."
Toovey said the hardest part of the injury was missing his first game since the end of 2008, when he was absent from round 22 and the Pies' two finals with a foot problem.
"It was a bit different with the preparation because you get to the ground and everyone's warming up and getting ready, and you're just standing around watching them," he said.
"Hopefully I don't have to do that again and get to play this week."
