Symmetric microcavities of sizes of a few micrometers in the visible-near IR region exhibit resonant modes. Studies on a relatively new geometry of microcavity known as microbottle resonator (MBR) has been carried out besides the spherical microcavity. Microcavities with high quality factors (Q) and low mode volumes are promising for novel optoelectronic devices and sensors. The spontaneous emission rate of an emitter embedded in the microcavity can be modified due to the interaction with its whispering gallery modes (WGMs). In this work, we have studied novel optical materials such as quantum dots and transition metal dichalcogenides (TMDCs). The studies include the interaction of a fluorescent charge transfer (CT) complex with the WGMs and the temperature dependent photoluminescence (PL) properties of quantum-dot embedded self-assembled MBRs. In the latter case, the mode shifts are stable over several cycles and long exposure to the laser -behaviour useful for temperature sensing micro-devices. The effect of coating dichalcogenide 2D materials on the Raman and transmission spectra of the MBR has been discussed in the later part of the thesis. The Q value decreases by orders of magnitude and a simpler mode structure is observed in the coated spectra. Such studies are useful for applications that require strictly a single mode. The coated MBRs exhibit Fano- and electromagnetically induced transparency (EIT) type resonances at 1550 nm. The behaviour of the evaporative crystallization of the molecules on substrates with different contact angles has also been explored.