Raghav,

I think that abductive thinking may be a hypothesis of a different kind, as opposed to not being a hypothesis.

Hypothesis (type primary use): If I add heat to an ice cube, I think it will turn to a liquid called water. Test hypothesis by putting ice cube in a small pot and put it on the stove.

Hypothesis (abduction): I believe that I can solve problem X. Let me “envision” what the world would be like if I solved that problem. Test: What do I think works and what doesn’t in that vision? What of those pieces can I move around, amend, combine to hopefully improve it?