diff --git a/components/apimgt/org.wso2.carbon.apimgt.gateway/src/main/java/org/wso2/carbon/apimgt/gateway/handlers/security/SchemaValidator.java b/components/apimgt/org.wso2.carbon.apimgt.gateway/src/main/java/org/wso2/carbon/apimgt/gateway/handlers/security/SchemaValidator.java
index 2b857a0feba9..3b505dd5a143 100644
--- a/components/apimgt/org.wso2.carbon.apimgt.gateway/src/main/java/org/wso2/carbon/apimgt/gateway/handlers/security/SchemaValidator.java
+++ b/components/apimgt/org.wso2.carbon.apimgt.gateway/src/main/java/org/wso2/carbon/apimgt/gateway/handlers/security/SchemaValidator.java
@@ -22,6 +22,7 @@
 import com.fasterxml.jackson.datatype.jsr310.JavaTimeModule;
 import io.swagger.util.Json;
 import io.swagger.v3.oas.models.OpenAPI;
+import org.apache.commons.codec.digest.DigestUtils;
 import org.apache.commons.logging.Log;
 import org.apache.commons.logging.LogFactory;
 import org.apache.synapse.MessageContext;
@@ -31,6 +32,8 @@
 import org.wso2.carbon.apimgt.gateway.handlers.security.model.OpenAPIResponse;
 import org.wso2.carbon.apimgt.gateway.utils.GatewayUtils;
 
+import java.util.HashMap;
+
 /**
  * This SchemaValidator handler validates the request/response messages against schema defined in the swagger.
  */
@@ -40,6 +43,7 @@ public class SchemaValidator extends AbstractHandler {
     private static final Log logger = LogFactory.getLog(SchemaValidator.class);
     private static final String HTTP_SC_CODE = "400";
     public static final String REG_TIME_MODULE = "register.timeModule";
+    public static HashMap<String, OpenApiInteractionValidator> validatorMap = new HashMap<>();
 
     /**
      * Method to generate OpenApiInteractionValidator when the openAPI is provided.
@@ -69,10 +73,10 @@ public boolean handleRequest(MessageContext messageContext) {
         }
         logger.debug("Validating the API request Body content..");
         OpenAPI openAPI = (OpenAPI) messageContext.getProperty(APIMgtGatewayConstants.OPEN_API_OBJECT);
-        if (openAPI != null) {
-            OpenApiInteractionValidator validator = getOpenAPIValidator(openAPI);
+        Object openAPIStringObject = messageContext.getProperty(APIMgtGatewayConstants.OPEN_API_STRING);
+        if (openAPI != null && openAPIStringObject != null) {
+            OpenApiInteractionValidator validator = getOpenApiValidator(openAPI, openAPIStringObject.toString());
             OpenAPIRequest request = new OpenAPIRequest(messageContext);
-
             ValidationReport validationReport = validator.validateRequest(request);
             messageContext.setProperty(APIMgtGatewayConstants.SCHEMA_VALIDATION_REPORT, validationReport);
             if (validationReport.hasErrors()) {
@@ -92,10 +96,10 @@ public boolean handleRequest(MessageContext messageContext) {
     public boolean handleResponse(MessageContext messageContext) {
 
         OpenAPI openAPI = (OpenAPI) messageContext.getProperty(APIMgtGatewayConstants.OPEN_API_OBJECT);
-        if (openAPI != null) {
-            OpenApiInteractionValidator validator = getOpenAPIValidator(openAPI);
+        Object openAPIStringObject = messageContext.getProperty(APIMgtGatewayConstants.OPEN_API_STRING);
+        if (openAPI != null && openAPIStringObject != null) {
+            OpenApiInteractionValidator validator = getOpenApiValidator(openAPI, openAPIStringObject.toString());
             OpenAPIResponse response = new OpenAPIResponse(messageContext);
-
             ValidationReport validationReport = validator.validateResponse(response.getPath(), response.getMethod(),
                     response);
             if (validationReport.hasErrors()) {
@@ -110,4 +114,26 @@ public boolean handleResponse(MessageContext messageContext) {
         }
         return true;
     }
+
+    /**
+     * Method to get OpenApiInteractionValidator for the given openAPI.
+     * If the validator is already created for the given openAPI, it will return the existing one.
+     * Created validators are mapped against the hash of the yaml.
+     *
+     * @param openAPI       - OpenAPI object
+     * @param openAPIString - OpenAPI string (yaml)
+     * @return OpenApiInteractionValidator
+     */
+    private OpenApiInteractionValidator getOpenApiValidator(OpenAPI openAPI, String openAPIString) {
+
+        OpenApiInteractionValidator validator;
+        String apiIdentifier = DigestUtils.md5Hex(openAPIString);
+        if (validatorMap.containsKey(apiIdentifier)) {
+            validator = validatorMap.get(apiIdentifier);
+        } else {
+            validator = getOpenAPIValidator(openAPI);
+            validatorMap.put(apiIdentifier, validator);
+        }
+        return validator;
+    }
 }
diff --git a/components/apimgt/org.wso2.carbon.apimgt.gateway/src/main/java/org/wso2/carbon/apimgt/gateway/handlers/security/model/OpenAPIRequest.java b/components/apimgt/org.wso2.carbon.apimgt.gateway/src/main/java/org/wso2/carbon/apimgt/gateway/handlers/security/model/OpenAPIRequest.java
index 627be5ba03b1..ac7594eec13e 100644
--- a/components/apimgt/org.wso2.carbon.apimgt.gateway/src/main/java/org/wso2/carbon/apimgt/gateway/handlers/security/model/OpenAPIRequest.java
+++ b/components/apimgt/org.wso2.carbon.apimgt.gateway/src/main/java/org/wso2/carbon/apimgt/gateway/handlers/security/model/OpenAPIRequest.java
@@ -19,11 +19,8 @@
 import com.atlassian.oai.validator.model.Request;
 import com.google.common.collect.ArrayListMultimap;
 import com.google.common.collect.Multimap;
-import io.swagger.parser.OpenAPIParser;
 import io.swagger.v3.oas.models.OpenAPI;
 import io.swagger.v3.oas.models.Paths;
-import io.swagger.v3.parser.core.models.ParseOptions;
-import io.swagger.v3.parser.core.models.SwaggerParseResult;
 import org.apache.commons.logging.Log;
 import org.apache.commons.logging.LogFactory;
 import org.apache.synapse.MessageContext;
@@ -33,7 +30,6 @@
 import org.wso2.carbon.apimgt.gateway.handlers.security.utils.SchemaValidationUtils;
 
 import java.io.UnsupportedEncodingException;
-import java.util.ArrayList;
 import java.util.Collection;
 import java.util.Collections;
 import java.util.Locale;
@@ -73,12 +69,8 @@ public OpenAPIRequest(MessageContext messageContext) {
         //Set Request path
         path = SchemaValidationUtils.getRestSubRequestPath(
                 messageContext.getProperty(REST_SUB_REQUEST_PATH).toString());
-        String swagger = messageContext.getProperty(APIMgtGatewayConstants.OPEN_API_STRING).toString();
-        if (swagger != null) {
-            OpenAPIParser openAPIParser = new OpenAPIParser();
-            SwaggerParseResult swaggerParseResult =
-                    openAPIParser.readContents(swagger, new ArrayList<>(), new ParseOptions());
-            OpenAPI openAPI = swaggerParseResult.getOpenAPI();
+        OpenAPI openAPI = (OpenAPI) messageContext.getProperty(APIMgtGatewayConstants.OPEN_API_OBJECT);
+        if (openAPI != null) {
             validatePath(openAPI);
         }
         //extract transport headers