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Microfluidic organs-on-chips or microphysiological systems (MPS) are promising tools that can potentially replace animal testing in drug development. MPS are platforms with microchannels seeded with certain organ cells used to emulate in vivo environments in laboratory conditions. Among them, platforms seeded with lung cells called lung-on-chip devices can evaluate the influence of toxic particles, gases, and chemicals on lung tissue in vitro. Lung-on-chip devices allow the mimicry of healthy lung conditions and a wide range of diseases (asthma, cancer, autoimmune, infections). This review focuses on the use of electrospun nanofiber membranes as a functional basement membrane which plays a central role in the development of lung-on-a-chip platforms. Here, we briefly introduce microfluidic devices, MPS, and lung-on-chip devices. Existing basement membrane models, such as thin-film and gel-based membranes, and their challenges/disadvantages are discussed. Next, the concepts of electrospinning and nanofiber membranes are introduced. Finally, the nanofiber membranes used in lung-on-chip devices are reviewed. Implementation of different polymer materials used to synthesize the nanofiber membranes and different methods for incorporation of the membrane inside the device are discussed. Electrospun nanofiber membranes provide good mechanical properties, allow transmigration of the immune cells, and withstand the physiological strain without affecting the cell viability.