ASX growth share to buy in 2021Ken Hall | September 8, 2020...

ASX growth share to buy in 2021
Ken Hall | September 8, 2020 9:14am |
PNV ASX 200
It’s been a strong year for many ASX growth shares. Healthcare, gold and tech shares have performed strongly despite the S&P/ASX 200 Index (ASX: XJO) slumping lower.
However, it’s hard to know what to buy in the current market. Looking ahead to 2021, here are a couple of top ASX growth shares I’d like to buy for my portfolio.
Polynovo and one more ASX growth share to buy
Let’s start with what I think the macro environment will look like early next year. I think we’ll see record low interest rates persist and government stimulus measures start to ease.
I expect the coronavirus pandemic will continue to weigh on markets in the first quarter of next year. Further market volatility will persist but I think the economy will still be in a holding pattern of sorts.
That leads me to my first ASX growth share to buy: Polynovo Ltd (ASX: PNV). Polynovo is a leading Aussie biotech company specialising in skin treatments through its synthetic polymer.
While tech shares are dominating right now, I think we could see biotech and healthcare surge higher next year.
Demand for services is high and patient numbers are slowly returning after falling away in early 2020. With Polynovo targeting more lucrative markets for its NovoSorb BTM product, I think next year’s earnings could be big.