The purpose of this study is to summarize recent research on new product development (NPD) and to examine the direction of future research on NPD. In recent years, product development has also become more diversified due to the formation and disappearance of new markets, the increasing commoditization of products, and the emergence of new technological infrastructures such as ICT and crowdsourcing. In addition, NPD research is also in a situation where new research is emerging along with the progress of research in related areas, such as open innovation and customer participation. On the other hand, research on NPD has become increasingly fragmented into themes related to NPD as research progresses, making it more difficult to grasp the overall picture of NPD research, although review articles on NPD have been written. Not many review articles have been written in a way that goes beyond the individual themes of NPD research. However, even though it is impossible to look at NPD research as a whole, this study believe that by daring to conduct an exhaustive review of recent NPD research, rather than individual issues, and by understanding the types of discussions that have taken place in recent NPD research, this study can identify areas that require further discussion. Based on the above, the purpose of this study is to comprehensively examine and organize the topics and issues that have been dealt with in recent NPD research, point out the topics that have not been adequately dealt with in previous research, and indicate the direction of future research. This study found that (1) half of the previous studies this study reviewed dealt with the topic of collaboration in NPD, (2) existing studies on NPD assume that the purpose of NPD is to gain competitive advantage through differentiation, but the formation of the market itself through NPD has not been discussed However, it became clear that there has been no discussion of the formation of the market itself through NPD. While the formation and disappearance of new markets has become a common phenomenon in recent years as the competitive environment changes more and more rapidly, the formation of new markets through NPD may also be discussed as a new research area of NPD. However, the formation of new markets through NPD could be discussed as a new research area of NPD. This study examined the possibility of discussing the formation of new markets through NPD by using market category studies.