GENTIAN DIAGNOSTICS ASA
Sector unknown·GENT · Oslo Børs·Fiscal year to 31/12/2024
Exposure profile
Derived from what the company itself writes. Empty directions mean the report doesn't mention themes of that type.
In their own words
Grouped by theme, from the management review in the annual report. A · The company itself is a verbatim quote, B · From the report is without a verified quote.
Healthcare and hospitals
End markets
DriverPositive impact: strengthens
“6 Letter from the CEO Dear shareholder, Key demographic trends, including an aging population, a rise in lifestyle-related diseases, and increasing healthcare cost pressures, underscore the urgent need for enhanced efficiency in laboratories and fast, accurate diagnostic results among clinicians. With our mission to innovate diagnostic efficiency, we take pride in addressing this critical market demand with our clinically relevant portfolio.”
Annual report 2024A · The company itself
Market
“Gentian aims to protect life and improve health by improving diagnostic efficiency and decision making in the clinical setting enabling better treatment. The company develops and manufactures high quality, in vitro diagnostic (IVD) reagents for a wide range of clinical chemistry analysers. The product lines of laboratory tests, for various diagnostic targets, provide high accuracy and fast results for both human and veterinary healthcare.”
Annual report 2024A · The company itself
Market
“Gentian’s expertise and focus lies within immunoassays, specifically for infections, inflammation, kidney disease and congestive heart failure.”
Annual report 2024A · The company itself
Market
“Customers Clinical laboratories are the end-users of Gentian’s products. These laboratories may operate within hospitals or as private institutions serving the outpatient sector. Gentian products are primarily utilized in core laboratories, which function as specialized departments within laboratory medicine.”
Annual report 2024A · The company itself
Market
“The clinical significance of calprotectin as a biomarker has been well established across a broad spectrum of inflammatory disorders, including paediatric and adult rheumatic diseases. It has demonstrated value not only in early detection of inflammation but also in monitoring treatment efficacy and assessing disease severity.”
Annual report 2024A · The company itself
Market
“GENTIAN DIAGNOSTICS ASA – GROUP 35 ESG focus areas The group currently focuses its ESG efforts on the following four areas with associated KPIs to track performance and progress: Safe and effective products • KPI: Safety incidents Care for our employees • KPIs: Gender balance, sick leave, work related incidents Conduct our business in an ethical manner • KPIs: Code of conduct breaches, non-conformances with the anti-corruption policy, supplier audits Minimise potential harm to the environment • KPI: Initiatives to minimise any potential harm to the environment Safe and effective products Gentian designs, manufactures, and distributes in vitro diagnostic devices to a global market with focus on patient safety and with the aim to positively impact patient outcomes and overall health sector efficiency. The company’s products are subject to high quality and safety requirements and product certifications which require an extensive quality system, and a highly competent staff.”
Annual report 2024A · The company itself
Chains in: Ageing population strengthens, GLP-1 and obesity treatment mixed effect
Agriculture and food production
End markets
Market
“At the product level, I would like to emphasize the accelerated growth of fCAL ® Turbo, a faecal calprotectin immunoassay supporting the diagnosis of inflammatory bowel disease (IBD). It grew by 42% in 2024 to NOK 61.3 million, becoming the highest-selling product in our portfolio.”
Annual report 2024A · The company itself
Market
“The fCAL ® turbo, faecal calprotectin immunoassay provides fast results of calprotectin concentration in stool, supporting diagnosis of inflammatory bowel disease (IBD). By providing a non-invasive test, it helps reduce the need for costly and invasive colonoscopic examinations, improving patient comfort and healthcare efficiency. fCAL ® turbo is produced by Gentian and sold exclusively through the partner BÜHLMANN Laboratories to end users, distributors, and as bulk to global diagnostics companies.”
Annual report 2024A · The company itself
Chains in: Grain and agricultural commodities mixed effect, Climate change and extreme weather weakens, Grocery retail and private label weakens
Biotech and drug development
Technology
StrategyPositive impact: strengthens
“Prove clinical relevance of GCAL ® and bring NT-proBNP to market.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Bring a steady stream of new high-impact diagnostic tests to market.”
Annual report 2024A · The company itself
Chains in: US drug pricing policy mixed effect, Patent expiry and generic competition weakens, Drug approvals strengthens
Chains out: this strengthens Buying contract manufacturing and research (CMO/CRO/EMS), strengthens Contract manufacturers as a business (EMS, CMO, CRO)
Industrial manufacturing
End markets
Market
“In order to reach the end-users, Gentian serves the following three customer categories: • Global diagnostics manufacturers of clinical chemistry instrument platforms who offer Gentian reagents as part of their reagent menu. • Healthcare institutions through direct commercial efforts. • Distributors in selected markets to broaden our global presence.”
Annual report 2024A · The company itself
Market
“The assay was launched in 2015 and has since reached several milestones such as completed registrations in key markets, including the US with the FDA510(k) clearance, IVDR certification in 2022, validations on all major clinical chemistry analysers, and a supply agreement with Roche Diagnostics through BÜHLMANN Laboratories. In 2024, BÜHLMANN Laboratories announced a worldwide collaboration with Beckman Coulter for both fCAL ® turbo and fPELA ® turbo.”
Annual report 2024A · The company itself
Medical devices
Technology
Market
“Gentian’s expertise and focus lies within immunoassays, specifically for infections, inflammation, kidney disease and congestive heart failure.”
Annual report 2024A · The company itself
Market
“Gentian aims to protect life and improve health by improving diagnostic efficiency and decision making in the clinical setting enabling better treatment. The company develops and manufactures high quality, in vitro diagnostic (IVD) reagents for a wide range of clinical chemistry analysers. The product lines of laboratory tests, for various diagnostic targets, provide high accuracy and fast results for both human and veterinary healthcare.”
Annual report 2024A · The company itself
Chains in: Ageing population strengthens
Semiconductors and electronic components
Raw materials and inputs
Market
“Gentian’s solution is to utilise PETIA (particle-enhanced turbidimetric immunoassay), based on proprietary nanoparticle technology and knowhow, to convert existing biomarkers to the most efficient automated, high-throughput analysers.”
Annual report 2024A · The company itself
Market
“The current portfolio includes the Gentian Cystatin C Immunoassay (IVDR and FDA-510(k) cleared), the GCAL ® circulating calprotectin immunoassay (IVDR), the Gentian Retinol Binding Protein (RBP) Immunoassay (CE-IVDD marked, FDA exempt) and the Gentian Canine CRP. Gentian is the sole reagent manufacturer for the faecal calprotectin immunoassay, fCAL ® turbo (IVDR and FDA-510(k) cleared) in addition to the pancreatic elastase immunoassay, fPELA ® turbo (IVDR, FDA exempt).”
Annual report 2024A · The company itself
Chains in: Artificial intelligence strengthens
Ageing population
Geography
DriverPositive impact: strengthens
“Some selected trends driving the in-vitro diagnostics market are the aging population and demographic development. increased prevalence of chronic and infectious diseases, personalized medicine and technological advancements.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“Established biomarkers like Procalcitonin (PCT) and lactate have certain limitations.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“Beyond racial considerations, Cystatin C offers significant advantages over creatinine in specific patient populations, such as elderly individuals, and patients with abnormal muscle mass caused by malnutrition, critical illness or amputation. Unlike creatinine, which is influenced by muscle mass, diet, and protein intake, Cystatin C levels remain largely independent of these factors, by offering a more consistent and less muscle-dependent marker for kidney function, Cystatin C enhances the accuracy of eGFR calculations, leading to better clinical decision-making and improved patient management across diverse populations.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“Long-term outlook Gentian targets disease groups that represent a total addressable market of around USD 6.1 billion globally and an estimated growth rate of 5-10% annually over the next 4-6 years, according to leading market data provider Kalorama (2022). From a macro perspective, key growth drivers include a growing and ageing population contributing to an increase in chronic and infectious diseases globally.”
Annual report 2024A · The company itself
Chains out: this strengthens Healthcare and hospitals, strengthens Medical devices, strengthens Hearing aids and hearing care
Business cycle and GDP growth
Macro
DriverPositive impact: strengthens
“We are targeting a total serviceable market of USD 1.8 billion, which is expected to grow by 5-10% annually.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“Growing market increases spending and drives the need for productivity and cost effectiveness gains that can be achieved e.g. by making assays available on fully automated high throughput platforms.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“Gentian’s products help boost laboratory productivity and enable clinicians to diagnose diseases at an earlier stage, leading to better treatment decisions. This contributes to both cost savings and protecting life, which is of tremendous value both individually and for society at large.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“Long-term outlook Gentian targets disease groups that represent a total addressable market of around USD 6.1 billion globally and an estimated growth rate of 5-10% annually over the next 4-6 years, according to leading market data provider Kalorama (2022). From a macro perspective, key growth drivers include a growing and ageing population contributing to an increase in chronic and infectious diseases globally.”
Annual report 2024A · The company itself
Chains out: this strengthens Global trade volumes, strengthens Construction
Labour and wages
Raw materials and inputs
DriverNegative impact: weakens
“Employee well-being and equal opportunities Commitment to employee well-being Gentian shall be a safe, collaborative, and stimulating place to work. The company follows all regulations related to Employee Health & Safety (e.g. the Norwegian “Working Environment Act) in all countries we have permanent staff.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“The group had 63 employees by the end of 2024 of which 40 are women.”
Annual report 2024A · The company itself
Automation and robotics
Technology
DriverPositive impact: strengthens
“The potential for faecal calprotectin is continuously growing due to both increased demand as well as the adoption of faecal testing in automated routine laboratories, gaining market share from manual or semi-automated procedures. fCAL ® turbo sales grew by 42% in 2024 to NOK 61.3 million, becoming the highest selling product in our portfolio.”
Annual report 2024A · The company itself
Consumer preference shifts
End markets
DriverPositive impact: strengthens
“Some selected trends driving the in-vitro diagnostics market are the aging population and demographic development. increased prevalence of chronic and infectious diseases, personalized medicine and technological advancements.”
Annual report 2024A · The company itself
Chains out: this mixed effect Beer and beverages
Energy efficiency
Technology
DriverPositive impact: strengthens
“The benefits include early diagnostic results that enable improved treatment decisions and a 3-10x increase in volume throughput that saves costs, making Gentian’s offering an attractive solution to the increasing pressure on laboratory productivity.”
Annual report 2024A · The company itself
Chains in: Carbon tax and ETS prices strengthens, EU climate and energy policy strengthens
ESG and sustainability reporting
Regulation
DriverNegative impact: weakens
“The QMS is certified according to ISO13485:2016 and Regulation (EU) 2017/746 on in Vitro Diagnostic Medical Devices and complies with national and international standards, laws and regulations for design and development, manufacturing, and distribution of in vitro diagnostic products.”
Annual report 2024A · The company itself
Tariffs and trade policy
Macro
DriverNegative impact: weakens
“7 Cystatin C had a year of mixed results in 2024, with sales declining by 10% compared to 2023. Despite strong growth in the USA and good performance in Europe, the softness in China, due to a tendering process called Value-Based Pricing, drove overall results down. However, from the end of 2024, we have seen an encouraging recovery in demand from China.”
Annual report 2024A · The company itself
Chains in: Geopolitical uncertainty strengthens
Chains out: this weakens Global trade volumes
United States
Geography
Geography
“However, from the end of 2024, we have seen an encouraging recovery in demand from China.”
Annual report 2024A · The company itself
Geography
“At the same time, market demand grew in the USA and in Europe, following the publication of new, favourable KDIGO guidelines for Cystatin C testing in 2024.”
Annual report 2024A · The company itself
Geography
“In the US Cystatin C sales grew by 36% in 2024.”
Annual report 2024A · The company itself
Geography
“Gentian Diagnostics is headquartered in Moss, Norway, serving the global human and veterinary diagnostics markets through sales and representative offices in Sweden, USA, and China.”
Annual report 2024A · The company itself
Chains in: USD vs DKK/EUR mixed effect
China
Geography
Geography
“7 Cystatin C had a year of mixed results in 2024, with sales declining by 10% compared to 2023. Despite strong growth in the USA and good performance in Europe, the softness in China, due to a tendering process called Value-Based Pricing, drove overall results down. However, from the end of 2024, we have seen an encouraging recovery in demand from China.”
Annual report 2024A · The company itself
Geography
“Gentian Diagnostics is headquartered in Moss, Norway, serving the global human and veterinary diagnostics markets through sales and representative offices in Sweden, USA, and China.”
Annual report 2024A · The company itself
Europe
Geography
Geography
“However, from the end of 2024, we have seen an encouraging recovery in demand from China.”
Annual report 2024A · The company itself
Geography
“At the same time, market demand grew in the USA and in Europe, following the publication of new, favourable KDIGO guidelines for Cystatin C testing in 2024.”
Annual report 2024A · The company itself
Denmark
Geography
Geography
“Gentian performs R&D, development, production, marketing, and distribution from its headquarters in Moss, Norway, and representative offices.”
Annual report 2024A · The company itself
Nordics
Geography
Geography
“Gentian Diagnostics is headquartered in Moss, Norway, serving the global human and veterinary diagnostics markets through sales and representative offices in Sweden, USA, and China.”
Annual report 2024A · The company itself
Competitors mentioned in the report
No named competitors in the report.
Financial figures
| Revenue latest fiscal year | 0.15 bn NOK |
| Revenue growth vs. the year before, same method | 12.5 % |
| EBITDA reported by the company | 0.02 bn NOK |
| Net debt debt incl. leasing minus cash | N/A |
| Diluted EPS per share | 2.87 NOK |
Source: annual report (ESEF) A. See the report
Criteria
| Profit | ✓ |
| Growing | ✓ |
| Healthy balance sheet | N/A |
Only the criteria that can be computed from financial statements on this page. The remaining criteria (such as price and dividend) need a share price and are in the analysis.
Figures are in the report's currency (NOK), not converted to DKK. Quotes are shown as the company's own words in the report's original language.