Panasonic TS2 has a 14.0MP 1/2.3-inch (6.08 x 4.56 mm ) sized CCD sensor and features Venus Engine HD II processor. On the other hand, Leica M9-P has a 18.0MP Full frame (36 x 24 mm ) sized CCD sensor .
One other difference between these two cameras that is worth mentioning is that Leica M9-P's sensor doesn't have an anti-alias (Low-Pass) filter. Removing anti-alias filter increases the sharpness and level of detail but at the same time, it increases the chance of moire occurring in certain scenes.
Below you can see the TS2 and M9-P sensor size comparison.
As seen above, Leica M9-P has a 31.2x Larger sensor area than Panasonic TS2. 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.