The wealthy and highly lucrative medtech firm Coloplast needs to let go of some of its caution, release the billions and acquire either new firms or technology, according to several industry actors.

"If your strategy involves acquisitions, you have to acquire. Just like if your strategy is to be a digital frontrunner or to be best at marketing. You have to invest in your strategy," says ABG Sundal Collier Jannick Lindegaard Denholt. He is far from alone in his views: