Yes, we use quite a lot of diaphragm compressors. They can provide a fairly high compression ratio, primarily because there is so much surface area and given the slow speed, there is quite a bit of heat transfer out of the gas during compression so the discharge temperature is generally well below adiabatic temperature.
There is no real limit to them regarding low pressure. I've seen them used in vacuum applications though that is not a typical application. There are a lot of different types also, including ones made with metal diaphragms and ones made with elastomer and thermoplastic diaphragms. They can last for thousands of hours or even tens of thousands of hours if the gas is absolutely clean. So they can last a long time compared to conventional reciprocating machines. The market niche for diaphragm machines is low flow, high compression ratios and very clean service or service where purity is a prime consideration.