Maybe not, I have a friend that had a drive that was unaccessible he used a program called SpinRite
he didn't think it would work, but to his supprize it worked.
Also I've heard if you pull the failed drive and put it in a freezer for about an hour, then put it back in the system, sometimes it will work long enough to pull the data off you need. (I've never tried this myself) But it can't hurt to try.
Or if the data is nonreplacable there are companies that can remove the platers and get the data back, but it's very expensive.
If you have trouble accessing the drive you might need to use a app to rebuild the filesystem.
I think its a hardware failure not filesystem coruption.