diff --git a/packages/block-editor/src/store/private-selectors.js b/packages/block-editor/src/store/private-selectors.js
index 3a6dcdd4e19e6b..9d3c5f27a7cc98 100644
--- a/packages/block-editor/src/store/private-selectors.js
+++ b/packages/block-editor/src/store/private-selectors.js
@@ -20,6 +20,7 @@ import {
 	checkAllowListRecursive,
 	getAllPatternsDependants,
 	getInsertBlockTypeDependants,
+	getParsedPattern,
 } from './utils';
 import { INSERTER_PATTERN_TYPES } from '../components/inserter/block-patterns-tab/utils';
 import { STORE_NAME } from './constants';
@@ -291,16 +292,15 @@ export const getInserterMediaCategories = createSelector(
 export const hasAllowedPatterns = createRegistrySelector( ( select ) =>
 	createSelector(
 		( state, rootClientId = null ) => {
-			const { getAllPatterns, __experimentalGetParsedPattern } = unlock(
-				select( STORE_NAME )
-			);
+			const { getAllPatterns } = unlock( select( STORE_NAME ) );
 			const patterns = getAllPatterns();
 			const { allowedBlockTypes } = getSettings( state );
-			return patterns.some( ( { name, inserter = true } ) => {
+			return patterns.some( ( pattern ) => {
+				const { inserter = true } = pattern;
 				if ( ! inserter ) {
 					return false;
 				}
-				const { blocks } = __experimentalGetParsedPattern( name );
+				const { blocks } = getParsedPattern( pattern );
 				return (
 					checkAllowListRecursive( blocks, allowedBlockTypes ) &&
 					blocks.every( ( { name: blockName } ) =>
diff --git a/packages/block-editor/src/store/selectors.js b/packages/block-editor/src/store/selectors.js
index f06293dadf233c..32fa081b390ae9 100644
--- a/packages/block-editor/src/store/selectors.js
+++ b/packages/block-editor/src/store/selectors.js
@@ -7,7 +7,6 @@ import {
 	getBlockVariations,
 	hasBlockSupport,
 	getPossibleBlockTransformations,
-	parse,
 	switchToBlockType,
 	store as blocksStore,
 } from '@wordpress/blocks';
@@ -27,6 +26,7 @@ import {
 	checkAllowList,
 	getAllPatternsDependants,
 	getInsertBlockTypeDependants,
+	getParsedPattern,
 } from './utils';
 import { orderBy } from '../utils/sorting';
 import { STORE_NAME } from './constants';
@@ -2349,40 +2349,12 @@ export function __experimentalGetDirectInsertBlock(
 }
 
 export const __experimentalGetParsedPattern = createRegistrySelector(
-	( select ) =>
-		createSelector(
-			( state, patternName ) => {
-				const pattern = unlock( select( STORE_NAME ) ).getPatternBySlug(
-					patternName
-				);
-				if ( ! pattern ) {
-					return null;
-				}
-				const blocks = parse( pattern.content, {
-					__unstableSkipMigrationLogs: true,
-				} );
-				if ( blocks.length === 1 ) {
-					blocks[ 0 ].attributes = {
-						...blocks[ 0 ].attributes,
-						metadata: {
-							...( blocks[ 0 ].attributes.metadata || {} ),
-							categories: pattern.categories,
-							patternName: pattern.name,
-							name:
-								blocks[ 0 ].attributes.metadata?.name ||
-								pattern.title,
-						},
-					};
-				}
-				return {
-					...pattern,
-					blocks,
-				};
-			},
-			( state, patternName ) => [
-				unlock( select( STORE_NAME ) ).getPatternBySlug( patternName ),
-			]
-		)
+	( select ) => ( state, patternName ) => {
+		const pattern = unlock( select( STORE_NAME ) ).getPatternBySlug(
+			patternName
+		);
+		return pattern ? getParsedPattern( pattern ) : null;
+	}
 );
 
 const getAllowedPatternsDependants = ( select ) => ( state, rootClientId ) => [
@@ -2401,16 +2373,13 @@ const getAllowedPatternsDependants = ( select ) => ( state, rootClientId ) => [
 export const __experimentalGetAllowedPatterns = createRegistrySelector(
 	( select ) => {
 		return createSelector( ( state, rootClientId = null ) => {
-			const {
-				getAllPatterns,
-				__experimentalGetParsedPattern: getParsedPattern,
-			} = unlock( select( STORE_NAME ) );
+			const { getAllPatterns } = unlock( select( STORE_NAME ) );
 			const patterns = getAllPatterns();
 			const { allowedBlockTypes } = getSettings( state );
 
 			const parsedPatterns = patterns
 				.filter( ( { inserter = true } ) => !! inserter )
-				.map( ( { name } ) => getParsedPattern( name ) );
+				.map( getParsedPattern );
 			const availableParsedPatterns = parsedPatterns.filter(
 				( { blocks } ) =>
 					checkAllowListRecursive( blocks, allowedBlockTypes )
diff --git a/packages/block-editor/src/store/utils.js b/packages/block-editor/src/store/utils.js
index c94453e99c60a4..71c5ac44f45b83 100644
--- a/packages/block-editor/src/store/utils.js
+++ b/packages/block-editor/src/store/utils.js
@@ -1,3 +1,8 @@
+/**
+ * WordPress dependencies
+ */
+import { parse } from '@wordpress/blocks';
+
 /**
  * Internal dependencies
  */
@@ -7,6 +12,39 @@ import { STORE_NAME } from './constants';
 
 export const withRootClientIdOptionKey = Symbol( 'withRootClientId' );
 
+const parsedPatternCache = new WeakMap();
+
+function parsePattern( pattern ) {
+	const blocks = parse( pattern.content, {
+		__unstableSkipMigrationLogs: true,
+	} );
+	if ( blocks.length === 1 ) {
+		blocks[ 0 ].attributes = {
+			...blocks[ 0 ].attributes,
+			metadata: {
+				...( blocks[ 0 ].attributes.metadata || {} ),
+				categories: pattern.categories,
+				patternName: pattern.name,
+				name: blocks[ 0 ].attributes.metadata?.name || pattern.title,
+			},
+		};
+	}
+	return {
+		...pattern,
+		blocks,
+	};
+}
+
+export function getParsedPattern( pattern ) {
+	let parsedPattern = parsedPatternCache.get( pattern );
+	if ( parsedPattern ) {
+		return parsedPattern;
+	}
+	parsedPattern = parsePattern( pattern );
+	parsedPatternCache.set( pattern, parsedPattern );
+	return parsedPattern;
+}
+
 export const checkAllowList = ( list, item, defaultResult = null ) => {
 	if ( typeof list === 'boolean' ) {
 		return list;