External drive blinks once

WD External Drives External Drives for PC
1

Hi,
I have a 2TB external drive with power supply which is used very rarely (as backup only).
Yesterday, when I plugged in the power, it just blinked once and then nothing happens. I tried to connect the drive to the laptop using my USB cable and then there is a steady blinking, but drive is not detected. I am connecting to an Win 10 laptop.
What should I do? I am sure it is out of the warranty period. Is there any way to save the drive? I don’t want to spend a huge sum on recovery. I brought this drive as a back-up and now the back-up has first failed with all my personal data.
Any help would be appreciated.
Kishore.