Panasonic ZS7 has a 12.0MP 1/2.3-inch (6.08 x 4.56 mm ) sized CCD sensor and features Venus Engine HD II processor. On the other hand, Sony HX200V has a 18.0MP 1/2.3-inch (6.17 x 4.55 mm ) sized BSI-CMOS sensor and features BIONZ processor.
Sony HX200V's sensor provides 6MP more than Panasonic ZS7's sensor, which gives a significant advantage in real life. You can print your images larger or crop more freely.
On the other hand, please keep in mind that Max sensor resolution is not the only determinant of resolving power. Factors such as the optical elements, low pass filter, pixel size and sensor technology also affects the final resolution of the captured image.
Below you can see the ZS7 and HX200V sensor size comparison.
Panasonic ZS7 and Sony HX200V have almost the same sensor size so none of them has any significant advantage over other in providing control over depth of field when used with same focal length and aperture.