diff --git a/sentry_sdk/utils.py b/sentry_sdk/utils.py
index b9be3d8936..3f9c541ff4 100644
--- a/sentry_sdk/utils.py
+++ b/sentry_sdk/utils.py
@@ -28,6 +28,11 @@
     # Python 3.10 and below
     BaseExceptionGroup = None  # type: ignore
 
+try:
+    from importlib import metadata as importlib_metadata
+except ImportError:
+    importlib_metadata = None  # type: ignore[assignment]
+
 from typing import TYPE_CHECKING
 
 import sentry_sdk
@@ -1841,6 +1846,14 @@ def package_version(package: str) -> "Optional[Tuple[int, ...]]":
         _replace_hyphens_dots_and_underscores_with_dashes(package)
     )
 
+    if importlib_metadata is not None:
+        # Look up the single distribution instead of scanning (and parsing
+        # the metadata of) every installed package on each call.
+        try:
+            return parse_version(importlib_metadata.version(normalized_package))
+        except importlib_metadata.PackageNotFoundError:
+            return None
+
     installed_packages = {
         _replace_hyphens_dots_and_underscores_with_dashes(module): v
         for module, v in _get_installed_modules().items()
diff --git a/tests/test_utils.py b/tests/test_utils.py
index 77def0eb6e..0bea9a6705 100644
--- a/tests/test_utils.py
+++ b/tests/test_utils.py
@@ -1412,6 +1412,24 @@ def test_package_version_is_none():
     assert package_version("non_existent_package") is None
 
 
+@pytest.mark.skipif(sys.version_info < (3, 8), reason="requires importlib.metadata")
+def test_package_version_installed_package():
+    from importlib import metadata
+
+    assert package_version("pytest") == parse_version(metadata.version("pytest"))
+
+
+@pytest.mark.skipif(sys.version_info < (3, 8), reason="requires importlib.metadata")
+def test_package_version_does_not_scan_all_installed_packages(monkeypatch):
+    def _fail():
+        raise AssertionError("package_version must not scan all installed packages")
+
+    monkeypatch.setattr("sentry_sdk.utils._get_installed_modules", _fail)
+
+    assert package_version("pytest") is not None
+    assert package_version("non_existent_package") is None
+
+
 @pytest.mark.parametrize(
     "kwargs, expected",
     [