1. A bubble within the cell which is surrounded by cell membrane material and is formed by pinching off part of the cell membrane. Vesicles contain particles which the cell is importing (endocytosis), or waste products and secretions which the cell is exporting (exocytosis).

  2. A small (less than one centimeter in diameter), fluid-filled skin lesion, usually raised; a blister.

From the BioTech Dictionary at http://biotech.icmb.utexas.edu/. For further information see the BioTech homenode.