Hi Sathish!
This worksflow briefly captures the method whichcould be helpful to you -
Firstly, start out by using the imcrop function to get the area of interest from the image. Further, consider using the different image thresholding options available here on MATLAB to isolate the blister from the rest of the image. As a final step, you use the function regionprops to get the desired output. This workflow briefly captures the method which could be helpful to you.
The Documentation links for the commands imcrop and regionprops are here -
Hope this helps!