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Hi,
An internet search of credible medical websites revealed the same information that cryotherapy, also called cryosurgery, cryoablation or targeted cryoablation therapy, refers to the application of extreme cold to destroy diseased tissue, including cancer cells. It is used to destroy skin tumors, precancerous skin moles, nodules, skin tags or unsightly freckles. It also has been used to destroy retinoblastomas, a childhood cancer of the retina, prostate, liver and cervical cancer, especially if surgery is not possible. Currently, research is being done to determine the effectiveness of cryotherapy for tumors of the bone, brain, kidney, lung and spine. Researchers are also evaluating its usefulness in freezing and shrinking benign breast lumps, called fibroadenomas.
Some medical professionals, particularly those who specialize in sports medicine, use the term cryotherapy to refer to the application of cold to muscles and joints that are sore or fatigued after physical exertion. Cryotherapy is used to treat conditions that involve irritation of an isolated nerves. I found nothing about its use to treat aging skin or depression.