April 15, 2024 – The Global Health Research Center and the Student Career Development Office at DKU concluded the third “This is Global Health!” symposium for the Spring semester.
Titled Re-wiring the Bridge – China’s Healthcare Market’s Innovation and the Path to Global Relevance, the event brought together leading industry experts and students for an in-depth discussion on the “go-global” trend of China’s healthcare industry and the potential opportunities for the career development of young global health talents.
The booming growth of China’s healthcare sector
“China has emerged as a global leader in pharmaceuticals, medical technology, and vaccine development, with these markets not only ranking among the world’s largest but continuing their rapid expansion,” said Prof. Fujie Xu, Co-Director of Global Health Program, in her opening remark.
She also pointed out that homegrown innovation is making its mark globally. “This is a pivotal moment – In today’s session, we will dive into the competitive landscape of healthcare enterprises in overseas market expansion, the vital role of academia in sustaining innovation, and the career pathways for the next generation of talents in this dynamic environment.”
Dr. Yitian Cai, Associate Partner at McKinsey Greater China, gave a keynote speech for the symposium. She provided a detailed analysis of the China healthcare sector’s innovation potential and trends of global expansion. Between 2016 and 2024, China experienced explosive growth in the number of novel drug trial applications.
At this stage, China’s healthcare sector is experiencing synchronous rapid growth in both the volume of clinical trials and new drug applications (NDAs) from domestic players. Therapeutic areas and categories of novel drugs continue to diversify, reflecting a maturing market characterized by increasing product differentiation, enhanced clinical specialization, and continuously improving quality.
Parallel developments are seen in the vaccine sector, where the product portfolio and accessibility have improved significantly. Domestic vaccine makers also demonstrate vigorous R&D. The market demand remains consistently strong, and huge innovative potential awaits to be unleashed.
Challenges of Going Global
“Even the leading Chinese MedTech companies derive less than 20% of their revenue from overseas business. The most common challenges are low global market penetration, limited contribution to key international markets, and untapped growth potential in overseas expansion,” said Dr. Yitian Cai.
She underscored a complex array of persistent challenges that Chinese players face when navigating global expansion, including fragmented internationalization strategies, financial pressures, deficiencies in local market knowledge and reliable partnership networks, and low brand credibility. Therefore, the successful implementation of globalization strategies not only requires the C-suites’ vision and systematic planning, but also in-depth knowledge of local operations.
While acknowledging that Chinese firms have earned growing recognition for their technical analytical models and innovative capacity – evidenced by increasing erger activity – Dr. Yitian Cai added that global reach remains imperative for unlocking China’s innovative potential.
“For healthcare companies specifically,” she concluded, “this transition requires maintaining financial stamina while fundamentally shifting competitive focus from quantitative scale to qualitative excellence.”
Career pathways for young talents
The second part of the Symposium was a panel discussion moderated by Tracy Xu, Director of the Student Career Development Office. Guest panelists included Dr. Yitian Cai, Prof. Fujie Xu, and Wingki Chu, a graduate student from the Class of 2025, MSc Global Health Program.
Dr. Yitian Cai highlighted that the evolving global landscape and heightened uncertainties have made market complexity and sustainability increasingly unpredictable, requiring enterprises and individuals working in the sector to adapt rapidly and effectively. “The C-suites must adopt strategic foresight and agile tactical management skills to build cross-cycle resilience. Businesses must prioritize quality over quantity,” she emphasized.
Wingki Chu shared her observation of the digitalization and evolving regulations, which have significantly transformed China’s healthcare sector. “Technology and digital ecosystems have become defining features of Chinese healthcare, fundamentally reshaping the entire medical landscape,” she noted. Drawing from her internship experience, Zhu highlighted the dynamic interplay between Chinese’ healthcare enterprises’ global expansion and the regulatory development in underserved markets.
She emphasized the cumulative value of every academic and professional experience. “Each step in our student journey matters,” Wingki Chu reflected. “Through community connections, we gain practical knowledge while learning to take multidimensional perspectives—this continuous growth mindset ultimately prepares us for the complexities of healthcare.”
“Research institutes play a pivotal role in bridging the private sector with different stakeholders in the going-global journey,” said Prof. Fujie Xu, noting that businesses must address the information asymmetry between supply and demand.
As for career advice for DKU students, she suggested aligning one’s career direction with strengths and building domain-specific expertise upon foundational professional skills.
“Your first job—or any subsequent role—does not confine your potential, much less define your life’s trajectory. Work should be viewed as a realm of possibilities. I encourage you all to embrace trial and error without fear,” said Prof. Fujie Xu.
A pre-symposium event, Coffee Chat with McKinsey organized by the Duke Consulting Club, facilitated a career talk with Dr. Yitian Cai and Prof. Fujie Xu. They answered questions from DKU students regarding the job recruitment process and career development in consulting firms and the global health sector.
Written and typesetting by Wuyue Qian
