We review principles and trends in the use of semiconductor nanowires (NWs) as gain media for stimulated emission and lasing. Semiconductor nanowires have recently been widely studied for use in integrated optoelectronic devices, such as LEDs, solar cells, and transistors. Intensive research has also been conducted on the use of nanowires for sub-wavelength laser systems that take advantage of their quasi-one-dimensional nature, flexibility in material choice and combination, and intrinsic optoelectronic properties. First, we provide an overview on using quasi-one-dimensional nanowire systems to realize sub-wavelength lasers with efficient, directional, and low-threshold emission. We then describe the state-of-the-art for nanowire lasers in terms of materials, geometry, and wavelength tunability. Next, we present the basics of lasing in semiconductor nanowires, define the key parameters for stimulated emission, and introduce the properties of nanowires. We then review advanced nanowire laser designs from the literature. Finally, we present interesting perspectives for low-threshold nanoscale light sources and optical interconnects. We intend to illustrate the potential of nanolasers in many applications, such as nanophotonic devices that integrate electronics and photonics for next-generation optoelectronic devices. For instance, these building blocks for nanoscale photonics can be used for data storage and biomedical applications when coupled to on-chip characterization tools. These nanoscale monochromatic laser light sources promise breakthroughs in nanophotonics, as they can operate at room temperature, potentially be electrically driven, and yield a better understanding of intrinsic nanomaterial properties and surface state effects in low-dimensional semiconductor systems.