Semiconductor nanolasers based on microdisks, photonic crystal cavities, and metallo-dielectric nanocavities have been studied during the last few decades for on-chip light source applications. However, practical realization of low threshold, room temperature semiconductor nanolasers is still a challenge due to the large surface-to-volume ratio of the nanostructures, which results in low optical gain and hence higher lasing threshold. Furthermore, the gain in nanostructures is an important parameter for designing all-dielectric metamaterial-based active applications. Here, we investigate the impact of p-type doping, compressive strain, and surface recombination on the gain spectrum and the spatial distribution of carriers in GaAs nanocylinders. Our analysis reveals that the lasing threshold can be lowered by choosing the right doping concentration in the active III-V material combined with compressive strain. This combination of strain and p-type doping shows 100× improvement in gain and approximately five times increase in modulation bandwidth for high-speed operation. © 2020 Author(s).