Blinking Question Mark on boot up
My trusty 2011 MBP went a bit strange the other day which the beachball appearing for ages and then the desktop background went black. I powered down by holding the power switch, then tried rebooting. I keep getting the blinking question mark. I have reset NVRAM but that's no good. I've started up in recovery mode but no drive shows up at all.
Is this drive kaput? I do have a time machine back up of it which is lucky. Is it worth buying a new drive or a new mac?
Thanks in advance.
Dan
MacBook Pro 13″, OS X 10.11