Both Panasonic ZS70 and Panasonic ZS200 have 20.0 MP resolution sensors but Panasonic ZS70's sensor is (1/2. ) and Panasonic ZS200's sensor is 1″ (13.2 x 8.8 mm ).
Since Panasonic ZS200's has a larger sensor area with the same resolution, this means that it also has a larger pixel area hence better light collecting capacity for a given aperture compared to Panasonic ZS70.
Below you can see the ZS70 and ZS200 sensor size comparison.
As seen above, Panasonic ZS200 has a infx Larger sensor area than Panasonic ZS70. Larger sensors give photographer more control on the depth of field and blurry background compared to smaller sensor when shot in same focal length and aperture.