Orange Health Labs Sets Sights on 2028 Profitability as Diagnostic Services Market Grows, ETHealthworld
Hyderabad: Indian diagnostic services provider Orange Health Labs is aiming to be fully profitable in the first half of 2028, and wants to double its physical outlets by the end of this fiscal year, its top executive told Reuters.
The healthcare startup, known for its at-home biological test sample collection services within 30 minutes, plans to increase its outlets to 150 by the end of fiscal 2026, up from over 70 at the end of last year, co-founder Dhruv Gupta said.
They also anticipate profitability in the next eight to nine quarters, Gupta said, without disclosing the company’s current valuation.
“A large part of the market is traditional and, while digitally enabled, they desire a physical experience,” Gupta told Reuters in an interview last week, citing the company’s focus on boosting its retail presence over the past 18 months.
The diagnostic service chain operates in Delhi, Mumbai and Hyderabad, as well as in Bengaluru, where it recently achieved profitability. Its expansion plans include new outlets in existing cities as well as entry into other metro cities across the country.
Backed by venture capital firms Y Combinator, Accel, and Amazon India’s Smbhav Venture Fund, Orange Health has raised $50 million to date.
Rising health awareness, coupled with India’s growing chronic disease burden and aging population, is driving high volumes of preventative tests, including those for diabetes and vitamin deficiencies. The country’s diagnostic services market is expected to grow to $43.57 billion by fiscal 2032, according to research firm Polaris Market Research. It was valued at $16.23 billion in 2023.
“The average age in India is about 28 years. Indians and South Asians are genetically predisposed to chronic metabolic diseases like diabetes and heart disease. So as the average age crosses 30, these diseases start cropping up,” said Gupta, adding that this would boost their test volumes.
The company’s data shows that a significant portion of people aged between 20 and 30 are already pre-diabetic, he added.
(Reporting by Rishika Sadam; Editing by Janane Venkatraman)
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