The answer is yes, but whether or not it is economically feasible is another question. If you can gain access to the laser lens, try gently cleaning it using a cotton swab and alcohol. Sometimes a buildup of dirt/dust can interfere with the laser and prevent the unit from reading the CD properly. If that fails, the next thing would be to replace the optics which may not be available as a separate part. These units were not designed to be repairable.
Keep us posted on your progress.
Dan